An Act To revitalize the housing industry by strengthening the financial stability of home mortgage lending institutions and ensuring the availability of home mortgage loans

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  • Title VII of the Depository Institutions Deregulation and Monetary Control Act of 1980 is amended by adding after section 723 the following: Disposition of Unclaimed Property Recovered from Closed National Banks. "Within twelve months following the date of the enactment of this part, the Comptroller (of the Currency) shall publish formal notice in the Federal Register that all claims to rights of any claimant to obtain title to, or custody or possession of, any unclaimed property in the possession, custody, or control of the Comptroller must be filed within twelve months following the last date of publication of such formal notice in the Federal Register or shall thereafter by barred." Detailed procedures are set forth for the claiming of property and the disposition of unclaimed property. If, after twelve months from the date formal notice is published in the Federal Register, any such property remains in the possession, custody, or control of the Comptroller for which no valid claim has been filed, all rights, title, and interest in such property shall immediately be vested in the United States.
  • After the close of the Exposition, all Federal property acquired to carry out this Act shall be disposed of in the discretion of the Secretary in accordance with the provisions of the Federal Property and Administrative Services Act of 1949 and other applicable Federal laws relating to the disposition of excess and surplus property. There is authorized to be appropriated $10,000,000 to carry out the purposes of this Act. Amendments to section 3 of the Act of May 27, 1970 (84 Stat. 272; 22 U.S.C. 2803) include developing a plan under subsection (a)(3) of this section. The Secretary of Commerce shall consider whether the plan should include the construction of a Federal pavilion and whether there is a federally endorsed need for a permanent structure in the area of the exposition.


  • United States Office of the Comptroller of the Currency
  • Federal Register


Smithsonian Legal Documents

Legal document information

  • 96 Stat. 1469
  • Title 12, Banks and Banking
  • Public Law

Citation information

Statutes at Large


This Act may be cited as the "Garn-St Germain Depository Institutions Act of 1982".

Contained within

96 Stat. 1469 (1982); Pub. L. No. 97-320 (Book)

Contact information

Institutional History Division, Smithsonian Institution Archives, 600 Maryland Avenue, S.W., Washington, D.C. 20024-2520,


  • 1984
  • 10/15/1982


  • Bona vacantia
  • Amendments (Parliamentary practice)
  • Unclaimed estates
  • Banks and banking
  • Abandonment of property
  • Property
  • Banks and banking--United States


United States


Public Law

Physical description

Number of pages: 4; Page Numbers: 1469, 1513-15

Full Record

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