Sec. 303. Continued conservatorship
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/bill/114/hr/1491/ih/section-303·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The conservatorships of the enterprises in effect upon the enactment of this Act shall continue in effect until the commencement of the receivership of the enterprises pursuant to subsection (d), subject to the transfer under section 102(a)(1)(B). Notwithstanding section 1367(b)(2)(D) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4617(b)(2)(D) ), after the date of the enactment of this Act, the Director shall, as conservator of each enterprise, take such actions as are necessary to manage the affairs, assets, and obligations of each enterprise, and to operate each enterprise, in compliance with this section.
During the term of the conservatorships of the enterprises, the Director shall— carry out the conservatorship in a manner that furthers achievement of the goals and terms of the mandatory receiverships under subsection (d)(2); identify any assets of the enterprises necessary for Ginnie Mae to carry out its functions and responsibilities under sections 201, 202, and 401 of this Act; and prepare for the transfer of the multifamily housing finance businesses of the enterprises in accordance with section 401 of this Act.
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Sec. 303
Continued conservatorship
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