12-U.S.C.-1747D

§1747D – Excess Earnings Used For Amortization of Original Investment

Pathway

Title 12 > Chapter 13 > Subchapter VII > Section 1747d

Details

• Reference: Section 1747d
• Legend: §1747D – Excess Earnings Used For Amortization of Original Investment
• USCode Year: 2013

Provision Content

For all of the purposes of any insurance contract made pursuant to this subchapter, 50 per centum of the excess earnings, if any, for any operating year may be applied, in addition to the minimum annual return, to return on the outstanding investment but only to the extent that such application thereof does not result in an annual return of more than 5 per centum of the outstanding investment for such operating year, and the balance of any such excess earnings shall be applied, in addition to the minimum annual amortization charge, to amortization of the outstanding investment: Provided, That if in any preceding operating years the gross income shall have been less than the operating expenses, such excess earnings shall be applied to the extent necessary in whole or in part, first, to the reimbursement of the amount of the difference between such expenses (exclusive of any premium charges previously waived hereunder) and such income, and, second, to the payment of any premium charges previously waived hereunder.

(June 27, 1934, ch. 847, title VII, §705, as added Aug. 10, 1948, ch. 832, title IV, §401, 62 Stat. 1277.)

U.S. Encyclopedia of Law Coverage

12-U.S.C.-1747 in the Legal Encyclopedia: Banking Law

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12-U.S.C.-1723C in the Legal Encyclopedia: Mortgage

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7-U.S.C.-3502 in the Legal Encyclopedia: Investment

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12-U.S.C.-1735F-9 in the Legal Encyclopedia: Insurance

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12-U.S.C.-1738 in the Legal Encyclopedia: Housing

In this entry about 12-U.S.C.-1738, 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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