---
kind: "section"
citation: "12 U.S.C. § 4115"
title: "12"
title_heading: "Banks and Banking"
number: "4115"
heading: "Timetable for approval of plan of action"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4115"
units:
  - "Chapter 42 — Low-Income Housing Preservation and Resident Homeownership"
  - "Subchapter I — Prepayment of Mortgages Insured under National Housing Act"
---

# §4115. Timetable for approval of plan of action

- (a) **Notification of deficiencies—** Not later than 60 days after receipt of a plan of action, the [Secretary](/usc/12/4119.md?p=10) shall notify the [owner](/usc/12/4119.md?p=7) in writing of any deficiencies that prevent the plan of action from being approved. If deficiencies are found, such notice shall describe alternative ways in which the plan may be revised to meet the criteria for approval.
- (b) **Notification of approval—**
  - (1) **In general—** Not later than 180 days after receipt of a plan of action, or such longer period as the [owner](/usc/12/4119.md?p=7) requests, the [Secretary](/usc/12/4119.md?p=10) shall notify the [owner](/usc/12/4119.md?p=7) in writing whether the plan of action, including any revisions, is approved. If approval is withheld, the notice shall describe—
    - (A) the reasons for withholding approval; and
    - (B) the actions that could be taken to meet the criteria for approval.
  - (2) **Opportunity to revise—** The [Secretary](/usc/12/4119.md?p=10) shall subsequently give the [owner](/usc/12/4119.md?p=7) a reasonable opportunity to revise the plan of action and seek approval.
- (c) **Delayed approval—** If the [Secretary](/usc/12/4119.md?p=10) does not approve a plan of action within the period under [subsection (b)](#b), the [Secretary](/usc/12/4119.md?p=10) shall provide incentives and assistance under this subchapter in the amount that the [owner](/usc/12/4119.md?p=7) would have received if the [Secretary](/usc/12/4119.md?p=10) had complied with such time limitations. The preceding sentence shall not apply if the plan of action was not approved because of deficiencies. An [owner](/usc/12/4119.md?p=7) may bring an action in the appropriate Federal district court to enforce this subsection.

## Source credit

(Pub. L. 100–242, title II, § 225, as added Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4266.)