Sec. 313. Transfer of ownership of Platform
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/bill/113/hr/2767/ih/section-313·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than the end of the 6-month period beginning on the date of the enactment of this Act, the Director shall determine a method for recovering the cost to each enterprise of developing the Platform, in consultation with Treasury, and agree on a valuation of the Platform upon transfer to the Utility. Not later than the end of the 1-year period beginning on the date of the issuance of the charter of the Utility by the Director, the Director shall oversee the transfer to the Utility of ownership of the Platform. At the time of such transfer, the value of the Platform as established in accordance with subsection
(a)shall be deemed transferred to the Utility, and shall be repaid to the Treasury of the United States by the Utility within 10 years after such transfer. After transfer of the Platform to the Utility, to the extent feasible the Platform shall be made available to the Agency on terms and conditions applicable to other users, to assist with managing the wind-down of any enterprise for which the Agency has been appointed conservator or receiver pursuant to section 1367 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4617 ).
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Sec. 313
Transfer of ownership of Platform
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