Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything to the contrary contained in any agreement, the National Housing Bank may, by notice in writing, require any borrowing 1 [institution] to discharge forthwith in full its liabilities to the National Housing Bank-- (a) if it appears to the Board that false or misleading information in any material particular was given in the application for the loan or advance; or (b) if the borrowing 1 [institution] has failed to comply with any of the terms of the agreement with the National Housing Bank in the matter of the loan or advance; or (c) if there is a reasonable apprehension that the borrowing 1 [institution] is unable to pay its debts or that proceedings for liquidation may be commenced in respect thereof; or (d) if for any reason, it is necessary so to do to protect the interests of the National Housing Bank.