--- kind: "section" citation: "42 U.S.C. § 2362" title: "42" title_heading: "The Public Health and Welfare" number: "2362" heading: "Financing by Commission" release: "119-102" date: "2026-07-12" url: "https://uscodex.org/usc/42/2362" units: - "Chapter 24 — Disposal of Atomic Energy Communities" - "Subchapter V — Financing" --- # §2362. Financing by Commission - (a) **Acceptance of residential property notes—** In the event that the [Commission](/usc/42/2304.md?p=a) finds that financing on reasonable terms is not available from other sources, the [Commission](/usc/42/2304.md?p=a) may, in order to facilitate the sale of [residential property](/usc/42/2304.md?p=m) under subchapter IV of this chapter, accept, in partial payment of the purchase price of any such property notes secured by first [mortgages](/usc/42/2304.md?p=e) on such terms and conditions as the [Commission](/usc/42/2304.md?p=a) shall deem appropriate. In the case of [houses](/usc/42/2304.md?p=c) and apartment buildings, the maturity and percentage of appraised value in connection with such notes and [mortgages](/usc/42/2304.md?p=e) shall not exceed those prescribed under [section 1715n(a) of title 12](/usc/12/1715n.md?p=a), and the interest rate shall equal the interest rate plus the premium being charged (and any periodic service charge being authorized by the [Secretary](/usc/42/242q–4.md?p=2) of Housing and Urban Development for properties of similar character) under [section 1715n(a) of title 12](/usc/12/1715n.md?p=a), at the effective date of such notes and [mortgages](/usc/42/2304.md?p=e). - (b) **Advances—** In connection with the sale of [residential property](/usc/42/2304.md?p=m) financed under [subsection (a)](#a) of this section, the [Commission](/usc/42/2304.md?p=a) is authorized to make advances for necessary repairs, or for the rehabilitation, [modernization](/usc/42/300s–3.md?p=9), rebuilding or enlargement of [single](/usc/42/2304.md?p=m) and duplex [residential properties](/usc/42/2304.md?p=m) to priority purchasers, and to include such advances in the amount of the note secured by the [mortgage](/usc/42/2304.md?p=e) on such property. - (c) **Acceptance of commercial property notes—** In the event that the [Commission](/usc/42/2304.md?p=a) finds that financing on reasonable terms is not available from other sources, the [Commission](/usc/42/2304.md?p=a) may, in order to facilitate the sale of commercial property under subchapter IV of this chapter, accept, in partial payment of the purchase price of any commercial property notes secured by first [mortgages](/usc/42/2304.md?p=e) on such terms and conditions as the [Commission](/usc/42/2304.md?p=a) shall deem appropriate. - (d) **Sale of notes and mortgages—** The [Commission](/usc/42/2304.md?p=a) may sell any notes and [mortgages](/usc/42/2304.md?p=e) acquired under subsections [(a)](#a) and [(c)](#c) of this section on terms set by the [Commission](/usc/42/2304.md?p=a). Notwithstanding any other provisions of law and without regard to the provisions of [section 6101 of title 41](/usc/41/6101.md), the [Commission](/usc/42/2304.md?p=a) may, in accordance with such terms and conditions as it may prescribe, (1) enter into contracts for servicing any of the notes and [mortgages](/usc/42/2304.md?p=e) it has acquired, and (2) sell or enter into contracts to sell to a servicer any notes and [mortgages](/usc/42/2304.md?p=e) with respect to which a servicing contract has been entered into by the servicer with the [Commission](/usc/42/2304.md?p=a): Provided, That with respect to sales of notes and [mortgages](/usc/42/2304.md?p=e) under (2) the [Commission](/usc/42/2304.md?p=a) shall comply with [section 6101 of title 41](/usc/41/6101.md) unless it determines that such compliance would not be feasible. ## Source credit (Aug. 4, 1955, ch. 543, ch. 6, § 62, 69 Stat. 478; July 25, 1956, ch. 731, § 2, 70 Stat. 653; Pub. L. 87–719, §§ 15, 16, Sept. 28, 1962, 76 Stat. 665; Pub. L. 90–19, § 11, May 25, 1967, 81 Stat. 23.) ## Notes ### Editorial Notes ### Codification In subsec. (d), “section 6101 of title 41” substituted for “section 3709 of the Revised Statutes” in two places on authority of Pub. L. 111–350, § 6(c), Jan. 4, 2011, 124 Stat. 3854, which Act enacted Title 41, Public Contracts. ### Amendments 1967—Subsec. (a). Pub. L. 90–19 substituted “Secretary of Housing and Urban Development” for “Federal Housing Commissioner”. 1962—Subsec. (a). Pub. L. 87–719, § 15, substituted “such property” for “house, apartment building, or dormitory”. Subsec. (d). Pub. L. 87–719, § 16, inserted provisions respecting servicing contracts and compliance with advertising requirements for public purchases when feasible. 1956—Subsec. (a). Act July 25, 1956, reenacted subsec. (a) without change. Subsecs. (b), (c). Act July 25, 1956, added subsecs. (b) and (c) and redesignated former subsec. (b) as (d). Subsec. (d). Act July 25, 1956, redesignated former subsec. (b) as (d) and included notes and mortgages acquired under subsec. (c) of this section. ### Statutory Notes and Related Subsidiaries ### Transfer of Functions Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections.