Elderly Life Safety Act

[AI summary unavailable — showing source text] Elderly Life Safety Act - Provides that no loans, mortgages, payments or contracts shall be issued under specified provisions of the National Housing Act unless the Secretary of Housing and Urban Development determines that the housing is in compliance with the requirements of the Life Safety Code of the National Fire Protection Association. Directs the Secretary, upon finding that any housing covered by a mortgage, loan, or other contract is not meeting the requirements imposed upon it, to secure from any United States district court, or any other court of competent jurisdiction within the United States, an appropriate order requiring compliance with such requirements. States that, in order to assure that specified projects are adequately protected against fire, the Secretary is authorized to make commitments to insure and to insure loans made by financial institutions to the owners or sponsors of projects to provide fire safety equipment. Sets forth the requirements which a loan must meet in order to be eligible for such insurance.…