§343b — Title 16 Conservation | U.S. Code

Summary

The Home Owners’ Loan Corporation must give the United States all of its ownership rights in a piece of land and any interests in it in Hancock County, Maine. The land was taken in foreclosure on a mortgage dated October 20, 1933, by Percy B. Russell and Florence L. Russell, recorded in book 642, page 389 of the Hancock County Registry of Deeds. The Secretary of the Interior must accept the transfer, pay the needed fees, and may do so without following certain federal transfer rules (including sections 3111 and 3112 of title 40, section 1136 of the Revised Statutes, and section 6101 of title 41), except that section 3112 of title 40 still applies. The land will be used only for national-park purposes and will become part of Acadia National Park. When the transfer happens, the Secretary of the Treasury will, instead of paying the Corporation in cash, cancel Home Owners’ Loan Corporation bonds with a principal amount of $18,000 that the Treasury bought under section 1463 of title 12. The Treasury will cancel the bonds and any unpaid amounts and accrued interest tied to them. The Secretary of the Treasury and the Corporation may make whatever bookkeeping adjustments are needed to carry this out.

Title 16, §343b

Conservation — Source: USLM XML via OLRC

The Home Owners’ Loan Corporation (herein called the “Corporation”) is authorized and directed to convey and transfer to the United States of America, upon the terms and conditions provided in this section, all right, title, and interest vested in the Corporation, at the date of such conveyance and transfer, in and to real property and interests therein in the county of Hancock, State of Maine, acquired by the Corporation through the foreclosure of that certain mortgage deed, dated October 20, 1933, executed to the Corporation by Percy B. Russell and Florence L. Russell, and appearing in book 642, page 389, of the Registry of Deeds of Hancock County, State of Maine. The Secretary of the Interior, for and on behalf of the United States of America, is authorized and directed to accept the conveyance and transfer of such property without regard to the provisions of section 3111 and 3112 of title 40 and section 1136 11 See References in Text note below. of the Revised Statutes, as amended, and section 6101 of title 41 (except section 3112 of title 40, which shall be applicable hereto), or any other provision of law. The Secretary of the Interior is further authorized and directed to pay all necessary fees, charges, and expenses in connection with such conveyance and transfer. Upon the conveyance and transfer of such property as herein provided, it shall be used and administered by the Secretary of the Interior solely for national-park purposes, and it shall be deemed to constitute a part of the Acadia National Park. Any other provision of law to the contrary notwithstanding, the Secretary of the Treasury shall, upon such conveyance and transfer and in lieu of any other payment by the United States to the Corporation as consideration for the conveyance and transfer of such property, cancel bonds of the Corporation, in the principal sum of $18,000, purchased by the Secretary of the Treasury under or by reason of the provisions set forth in section 1463 of title 12 (which bonds are made available to the Secretary of the Treasury for the purposes of this paragraph), and all sums due and unpaid upon or in connection with such bonds at the time of such cancelation and discharge, together with any accrued interest: Provided, That the Secretary of the Treasury and the Corporation are authorized and directed to make adjustments on their books and records as may be necessary to carry out the purposes of this section.

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 1136 of the Revised Statutes, referred to in the second par., was repealed and reenacted as section 4774(d) and 9774(d) of Title 10, Armed Forces, by act Aug. 10, 1956, ch. 1041, 70A Stat. 1. section 4774(d) and 9774(d) were redesignated as entire section 4774 and 9774 by Pub. L. 93–166, title V, § 509(c), (e), Nov. 29, 1973, 87 Stat. 677, 678, and subsequently were repealed by Pub. L. 97–214, § 7(1), July 12, 1982, 96 Stat. 173. Section 1463 of title 12, referred to in the last par., was repealed by Pub. L. 89–554, § 8(a), Sept. 6, 1966, 80 Stat. 648. Codification In text, “section 3111 and 3112 of title 40 and” substituted for “section 355, as amended,” and “section 3112 of title 40” substituted for “the last paragraph of said section 355, as amended” on authority of Pub. L. 107–217, § 5(c), Aug. 21, 2002, 116 Stat. 1303, which Act enacted Title 40, Public Buildings, Property, and Works. In text, “section 1136 of the Revised Statutes, as amended, and section 6101 of title 41” substituted for “section 1136, as amended, and section 3709 of the Revised Statutes” on authority of Pub. L. 111–350, § 6(c), Jan. 4, 2011, 124 Stat. 3854, which Act enacted Title 41, Public Contracts.

Statutory Notes and Related Subsidiaries

Abolition of Home Owners’ Loan Corporation For dissolution and abolishment of Home Owners’ Loan Corporation, by act June 30, 1953, ch. 170, § 21, 67 Stat. 126, see note set out under section 1463 of Title 12, Banks and Banking.

§343b Addition of Lands