Sec. 316. Repayment of cost
126 words·~1 min read·
/bill/115/hr/6746/ih/section-316A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 10 years after the Transfer Date, the total cost of the property transferred in accordance with section 315(c) at the time of the transition, as determined by the Director, in consultation with the Federal Housing Finance Oversight Board, shall be repaid by the Exchange to the entity that owned the property prior to the time of transfer. Before the repayment required under subsection (a), the Director shall contract with a third-party to provide a valuation of the total cost of the property transferred in accordance with section 315(c) at the time of the transition.
The Exchange may charge a reasonable fee for the use of the Common Securitization Platform and other services, for the purpose of making the repayment described under subsection (a).