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U.S. Code, Title 12, Banks and Banking
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General SummaryThe U.S. Code is a consolidation and codification by subject matter of the general and permanent laws of the United States. While every effort has been made to ensure that this reproduction of the Code is accurate, those using it for legal purposes should verify their results against the printed version of the Code available through the Government Printing Office.
§ 4142. Purposes
The purposes of this subchapter are—
(1) to promote the ability of residents of eligible low-income housing to meaningfully participate in the preservation process established by this title 1 and affect decisions about the future of their housing;
1 See References in Text note below.
(2) to promote the ability of community-based nonprofit housing developers and resident councils to acquire, rehabilitate, and competently own and manage eligible housing as rental or cooperative housing for low- and moderate-income people; and
(3) to assist the Secretary in discharging the obligation under section 4110 of this title to notify potential qualified purchasers of the availability of properties for sale and to otherwise facilitate the coordination and oversight of the preservation program established under this title.1
(Pub. L. 100–242, title II, § 252, as added Pub. L. 102–550, title III, § 312, Oct. 28, 1992, 106 Stat. 3766.)
References in Text
This title, referred to in pars. (1) and (3), means title II of Pub. L. 100–242, as amended by Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4249, known as the Low-Income Housing Preservation and Resident Homeownership Act of 1990, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 4101 of this title and Tables.
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Chicago:
"U.S. Congress, Office of the Law Revision Counsel", "§ 4142. Purposes," U.S. Code, Title 12, Banks and Banking in U.S. Code, Title 12, Banks and Banking (Washington, D.C.: Government Printing Office, 2002), Original Sources, accessed July 18, 2025, http://www.originalsources.com/Document.aspx?DocID=CR495EKB32M2Q1Q.
MLA:
"U.S. Congress, Office of the Law Revision Counsel". "§ 4142. Purposes." U.S. Code, Title 12, Banks and Banking, in U.S. Code, Title 12, Banks and Banking, Washington, D.C., Government Printing Office, 2002, Original Sources. 18 Jul. 2025. http://www.originalsources.com/Document.aspx?DocID=CR495EKB32M2Q1Q.
Harvard:
"U.S. Congress, Office of the Law Revision Counsel", '§ 4142. Purposes' in U.S. Code, Title 12, Banks and Banking. cited in 2002, U.S. Code, Title 12, Banks and Banking, Government Printing Office, Washington, D.C.. Original Sources, retrieved 18 July 2025, from http://www.originalsources.com/Document.aspx?DocID=CR495EKB32M2Q1Q.
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