Which of the Following Act Preempts State Laws and Upholds

question 14

Multiple Choice

Which of the following act preempts state laws and upholds the validity of due-on-sale clause?

• A) Ashurst-Sumners Act
• B) Celler-Kefauver Act
• C) Esch-Cummins Act
• D) Dingell-Johnson Act
• E) Garn-St. Germain Depository Institutions Act

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Definitions:

Similarities

Aspects or characteristics that are alike between two or more entities or objects.

Consolidated Financial Statements

Financial statements that show the combined financial position and results of operations of a parent company and its subsidiaries.

Combined Reporting

A method used in corporate taxation that combines the tax reports of related companies into one comprehensive report.

Corporation

A legal entity that is separate and distinct from its owners, capable of owning assets, incurring debts, and entering into contracts.