Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · BILL · 113th Congress · H.R. 2767 (Introduced in House) — To protect American taxpayers and homeowners by creating a sustainable housing finance system for the 21st century. · Sec. 312

Sec. 312. General powers; authorized and prohibited activities

324 words·~1 min read·/bill/113/hr/2767/ih/section-312·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The Utility may— adopt and use a corporate seal; determine a State whose law will govern the corporate business activities of the Utility; adopt, amend, and repeal by-laws; sue or be sued, subject to section 334 (relating to judicial review); make contracts, incur liabilities, borrow money, and issue notes, bonds, or other obligations; purchase, receive, hold, and use real and personal property and other assets necessary for the conduct of its operations; elect or appoint directors, officers, employees and agents, subject to section 311(f); and upon receipt of the Director’s prior written approval, establish subsidiaries or affiliates that shall be subject to the same rights, duties and responsibilities as the Utility.
In addition to the general powers under subsection (a), the Utility shall— develop standards related to originating, servicing, pooling, and securitizing residential mortgage loans in accordance with part 2; operate and maintain the Platform and establish fees for use of the Platform; establish the Repository and establish fees for registration of mortgage-related documents and maintenance and use of data of the Repository, in accordance with part 3; perform any other service or engage in any other activity that the Director determines, by regulation or order, to be incidental to the activities enumerated in this subsection; and establish fees for the provision of other related or incidental services not inconsistent with the purposes of this subtitle.
The Utility shall not— originate, service, insure, or guarantee any residential mortgage or other financial instrument that is associated with a residential mortgage; guarantee timely payment of principal or interest on any mortgage-related security; adopt access rules or fees for the Platform the effect of which is to discriminate against eligible loan originators, aggregators, or qualified issuers based on size, composition, business line, or loan volume; or perform any service or engage in any activity other than those authorized under this subtitle, unless such activity has been determined by the Director to be incidental to an authorized activity.
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.