12-U.S.C.-1735F-8
§1735F-8 – §1735F-8. Time of Payment of Premium Charges
Pathway
Title 12 > Chapter 13 > Subchapter V > Section 1735f-8
Details
- Reference: Section 1735f-8
- Legend: §1735F-8 – §1735F-8. Time of Payment of Premium Charges
- USCode Year: 2013
Provision Content
In carrying out the provisions of subchapters I, II, IV, VII, VIII, IX–B, and X of this chapter pertaining to the payment of loan or mortgage insurance premium charges by a financial institution, other mortgagees, or agent thereof to the Federal Government in connection with a loan or mortgage insurance program established pursuant to any of these subchapters, the Secretary shall require that payment of such premiums be made (1) in the case of loans or mortgages respecting one- to four-family residences, promptly upon their receipt from the borrower, and (2) in any other case, promptly when due to the Secretary; except that the Secretary may approve payment of such premiums within twenty-four months of such receipt or due date, as appropriate, if the financial institution, mortgagee, or agent thereof pays interest, at a rate specified by the Secretary, to the insurance fund for the period beginning twenty days after receipt from the borrower or after the due date, as appropriate, and ending upon payment of the premiums to the Federal Government.
(June 27, 1934, ch. 847, title V, §530, as added Pub. L. 96–399, title III, §320, Oct. 8, 1980, 94 Stat. 1646; amended Pub. L. 98–181, title I [title IV, §406], Nov. 30, 1983, 97 Stat. 1210; Pub. L. 101–235, title I, §133(d)(5), Dec. 15, 1989, 103 Stat. 2027.)
References in Text
Subchapter IV of this chapter, referred to in text, was repealed by Pub. L. 101–73, title IV, §407, Aug. 9, 1989, 103 Stat. 363.
Amendments
1989—Pub. L. 101–235 struck out reference to subchapter IX–A after reference to subchapter VIII.
1983—Pub. L. 98–181 substituted (1) in the case of loans or mortgages respecting one- to four-family residences, promptly upon their receipt from the borrower, and (2) in any other case, promptly when due to the Secretary for promptly upon their receipt from the borrower, inserted or due date, as appropriate, after such receipt, and inserted or after the due date, as appropriate, before and ending.
U.S. Encyclopedia of Law Coverage
12-U.S.C.-1735F-20 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-1735F-20, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-1735C in the Legal Encyclopedia: Insurance
In this entry about 12-U.S.C.-1735C, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.
12-U.S.C.-1735F-10 in the Legal Encyclopedia: Housing
In this entry about 12-U.S.C.-1735F-10, find legal reference material, bibliographies and premiere content related to housing in the American Encyclopedia of Law, presenting a comprehensive view of the United States housing-specific issues, written by authorities in the field.
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