Text
Title 24: Housing and Urban Development
Subtitle B: Regulations Relating to Housing and Urban Development (Continued)
CHAPTER II: OFFICE OF ASSISTANT SECRETARY FOR HOUSING-FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
SUBCHAPTER B: MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES
PART 213: COOPERATIVE HOUSING MORTGAGE INSURANCE
Subpart B: Contract Rights and Obligations-Projects
: Cooperative Management Housing Insurance and Distributive Shares
213.278 - Distribution of distributive share.When the contract of insurance is terminated by reason of payment in full of the mortgage or by voluntary termination approved by the Commissioner, and at such time or times prior to such termination as the Commissioner may approve, the Commissioner may distribute to a mortgagor under a mortgage that is the obligation of the Cooperative Management Housing Insurance Fund a share of the Participating Reserve Account in such manner and amount as he shall determine to be equitable and in accordance with sound actuarial and accounting practice.
Sponsored links
