---
kind: "section"
citation: "42 U.S.C. § 8105"
title: "42"
title_heading: "The Public Health and Welfare"
number: "8105"
heading: "Powers and duties of corporation"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/42/8105"
units:
  - "Chapter 90 — Neighborhood and City Reinvestment, Self-Help and Revitalization"
  - "Subchapter I — Neighborhood Reinvestment Corporation"
---

# §8105. Powers and duties of corporation

- (a) **Continuance of work of Urban Reinvestment Task Force regarding neighborhood housing services programs and preservation projects—**
  - (1) The [corporation](/usc/42/2297h.md?p=2) shall continue the work of the Urban Reinvestment [Task Force](/usc/42/242q–4.md?p=3) in establishing neighborhood housing services programs in neighborhoods throughout the United States, monitoring their progress, and providing them with grants and technical assistance. For the purpose of this paragraph, a neighborhood housing services program may involve a partnership of neighborhood residents and representatives of local governmental and financial institutions, organized as a [State](/usc/42/2021b.md?p=14)-chartered non-profit [corporation](/usc/42/2297h.md?p=2), working to bring about reinvestment in one or more neighborhoods through a program of systematic housing inspections, increased public investment, increased private lending, increased resident investment, and a revolving loan fund to make loans available at flexible rates and terms to homeowners not meeting private lending criteria.
  - (2) The [corporation](/usc/42/2297h.md?p=2) shall continue the work of the Urban Reinvestment [Task Force](/usc/42/242q–4.md?p=3) in identifying, monitoring, evaluating, and providing grants and technical assistance to selected neighborhood preservation [projects](/usc/42/13641.md?p=2) which show promise as mechanisms for reversing neighborhood decline and improving the quality of neighborhood life.
  - (3) The [corporation](/usc/42/2297h.md?p=2) shall experimentally replicate neighborhood preservation [projects](/usc/42/13641.md?p=2) which have demonstrated success, and after creating reliable developmental processes, bring the new programs to neighborhoods throughout the United States which in the judgment of the [corporation](/usc/42/2297h.md?p=2) can benefit therefrom, by providing assistance in organizing programs, providing grants in partial support of program costs, and providing technical assistance to ongoing programs.
  - (4) The [corporation](/usc/42/2297h.md?p=2) shall continue the work of the Urban Reinvestment [Task Force](/usc/42/242q–4.md?p=3) in supporting Neighborhood Housing Services of America, a [nonprofit](/usc/42/300s–3.md?p=3) [corporation](/usc/42/2297h.md?p=2) established to provide services to local neighborhood housing services programs, with support which may include technical assistance and grants to expand its national loan purchase pool and may contract with it for services which it can perform more efficiently or effectively than the [corporation](/usc/42/2297h.md?p=2).
  - (5) The [corporation](/usc/42/2297h.md?p=2) shall, in making and providing the foregoing grants and technical and other assistance, determine the reporting and management restrictions or requirements with which the recipients of such grants or other assistance must comply. In making such determinations, the [corporation](/usc/42/2297h.md?p=2) shall assure that recipients of grants and other assistance make available to the [corporation](/usc/42/2297h.md?p=2) such information as may be necessary to determine compliance with applicable Federal laws.
- (b) **General administrative powers—** To carry out the foregoing purposes and engage in the foregoing activities, the [corporation](/usc/42/2297h.md?p=2) is authorized—
  - (1) to adopt, alter, and use a corporate seal;
  - (2) to have succession until dissolved by Act of Congress;
  - (3) to make and perform contracts, agreements, and commitments;
  - (4) to sue and be sued, complain and defend, in any [State](/usc/42/2021b.md?p=14), Federal, or other court;
  - (5) to determine its necessary expenditures and the manner in which the same shall be incurred, allowed, and paid, and appoint, employ, and fix and provide for the compensation of consultants, without regard to any other law, except as provided in [section 8107(d) of this title](/usc/42/8107.md?p=d);
  - (6) to settle, adjust, and compromise, and with or without compensation or benefit to the [corporation](/usc/42/2297h.md?p=2) to release or waive in whole or in part, in advance or otherwise, any claim, demand, or right of, by, or against the [corporation](/usc/42/2297h.md?p=2);
  - (7) to invest such funds of the [corporation](/usc/42/2297h.md?p=2) in such investments as the board of [directors](/usc/42/11851.md?p=5) may prescribe;
  - (8) to acquire, take, hold, and own, and to deal with and dispose of any property; and
  - (9) to exercise all other powers that are necessary and proper to carry out the purposes of this subchapter.
- (c) **Contracting powers—**
  - (1) The [corporation](/usc/42/2297h.md?p=2) may contract with the Office of Neighborhood Reinvestment of the Federal home loan banks for all staff, services, facilities, and equipment now or in the future furnished by the Office of Neighborhood Reinvestment to the Urban Reinvestment [Task Force](/usc/42/242q–4.md?p=3), including receiving the services of the [Director](/usc/42/11851.md?p=5) of the Office of Neighborhood Reinvestment as the [corporation](/usc/42/2297h.md?p=2)’s executive [director](/usc/42/11851.md?p=5).
  - (2) The [corporation](/usc/42/2297h.md?p=2) shall have the power to award contracts and grants to—
    - (A) neighborhood housing services [corporations](/usc/42/2297h.md?p=2) and other [nonprofit](/usc/42/300s–3.md?p=3) [corporations](/usc/42/2297h.md?p=2) engaged in neighborhood preservation activities; and
    - (B) local governmental bodies.
  - (3) The [Secretary](/usc/42/242q–4.md?p=2) of Housing and Urban Development, the Federal Housing Finance [Agency](/usc/42/8262.md?p=1) and the Federal home loan banks, the Board of Governors of the Federal Reserve System and the Federal Reserve banks, the Federal Deposit Insurance [Corporation](/usc/42/2297h.md?p=2), and the Comptroller of the Currency, the National Credit Union Administration or any other department, [agency](/usc/42/8262.md?p=1), or other instrumentality of the Federal Government are authorized to provide funds, services and facilities, with or without reimbursement, necessary to achieve the objectives and to carry out the purposes of this subchapter.
- (d) **Non-profit nature of corporation—**
  - (1) The [corporation](/usc/42/2297h.md?p=2) shall have no power to issue any shares of stocks, or to declare or pay any dividends.
  - (2) No part of the income or assets of the [corporation](/usc/42/2297h.md?p=2) shall inure to the benefit of any [director](/usc/42/11851.md?p=5), officer, or employee, except as reasonable compensation for services or reimbursement for expenses.
  - (3) The [corporation](/usc/42/2297h.md?p=2) may not contribute to or otherwise support any political party or candidate for elective public office.

## Source credit

(Pub. L. 95–557, title VI, § 606, Oct. 31, 1978, 92 Stat. 2117; Pub. L. 96–399, title III, § 315(2), Oct. 8, 1980, 94 Stat. 1645; Pub. L. 97–320, title VII, § 710(b), Oct. 15, 1982, 96 Stat. 1544; Pub. L. 111–203, title III, § 374, July 21, 2010, 124 Stat. 1566.)

## Notes

### Editorial Notes

### Amendments

2010—Subsec. (c)(3). Pub. L. 111–203 substituted “Federal Housing Finance Agency” for “Federal Home Loan Bank Board”.

1982—Subsec. (c)(3). Pub. L. 97–320 inserted “funds,” after “provide”.

1980—Subsec. (a)(1). Pub. L. 96–399 substituted “monitoring” for “supervising”.

### Statutory Notes and Related Subsidiaries

### Effective Date of 2010 Amendment

Amendment by Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.