Any building association incorporated or unincorporated, organized and existing under the laws of the District of Columbia, to do or now doing, in the District of Columbia, a building association business, is authorized and empowered to exchange mortgages or deeds of trust or the notes or bonds secured thereby or other obligations and liens secured on real estate or any real estate which it may have or hold, for the bonds of the Home Owners’ Loan Corporation created pursuant to the authority of the Home Owners’ Loan Act of 1933, approved June 13, 1933, and said association is hereby authorized to carry said bonds as an asset at the par value of said bonds.
(Mar. 3, 1901, ch. 854, § 56; Mar. 27, 1934, 48 Stat. 506, ch. 96.)
Prior Codifications1981 Ed., § 26-517.
1973 Ed., § 26-416.
Section ReferencesThis section is referenced in § 26-710.
References in TextThe Home Owners’ Loan Corporation, referred to in this section, was dissolved by the Act of June 30, 1953, 67 Stat. 126, ch. 170, § 21.
The Home Owners’ Loan Act of 1933, approved June 13, 1933, referred to in this section, is codified in Chapter 12 of Title 12, United States Code, and, as amended, is referred to as the “Home Owners’ Loan Act.”.