Sec. 1201. program authority

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## Sec. 1201 program authority **[**[12 U.S.C. 1749bbb](/us/usc/t12/s1749bbb)**]** ###

(a)The Director is authorized to establish and carry out the programs provided for in parts A, B, C, and D of this title. ###

(b)The powers of the Director under part B shall terminate on November 30, 1983, and part A shall terminate on September 30, 1985, and parts C and D shall terminate on September 30, 1995, except to the extent necessary— 145Title XI of the Housing and Urban Development Act of 1968, Pub. L. 90–448, amended the National Housing Act by adding title XII. Section 1101 of Pub. L. 90–448 provides as follows: ``Sec. 1101. This title may be cited as the “Urban Property Protection and Reinsurance Act of 1968.”''. ####

(1)to continue reinsurance and direct insurance in accordance with the provisions of sections 1223(b) and 1231(c) until September 30, 1985, and September 30, 1996, respectively; ####

(2)to process, verify, and pay claims for reinsured losses and directly insured losses and perform other necessary functions in connection therewith; and ####

(3)to complete the liquidation and termination of the reinsurance and direct insurance programs

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12 USC 1749bbb
Pub. L. 90-448

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Sec. 1201

program authority

Cite12 USC 1749bbb

Pub. L.Pub. L. 90-448

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