2012 US Code
Title 12 - Banks and Banking
Chapter 13 - NATIONAL HOUSING (§§ 1701 - 1750jj)
Subchapter V - MISCELLANEOUS (§§ 1731 - 1735h)
Section 1735a - Prepayment of mortgages by nonprofit educational institutions; refunds
| Publication Title | United States Code, 2012 Edition, Title 12 - BANKS AND BANKING |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 12 - BANKS AND BANKING CHAPTER 13 - NATIONAL HOUSING SUBCHAPTER V - MISCELLANEOUS Sec. 1735a - Prepayment of mortgages by nonprofit educational institutions; refunds |
| Contains | section 1735a |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | June 27, 1934, ch. 847, title V, §517, as added Pub. L. 88-560, title I, §120, Sept. 2, 1964, 78 Stat. 782; amended Pub. L. 90-19, §1(a)(3), May 25, 1967, 81 Stat. 17. |
| Statutes at Large References | 78 Stat. 782 81 Stat. 17 |
| Public Law References | Public Law 88-560, Public Law 90-19 |
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(a) Notwithstanding any other provision of this chapter, no adjusted premium charge shall be collected in connection with the payment in full, prior to maturity, of any mortgage insured under this chapter, if the mortgagor certifies to the Secretary that the loan was paid in full by or on behalf of a nonprofit educational institution which intends to use the property for educational purposes.
(b) The Secretary shall refund any adjusted premium charge collected subsequent to July 1, 1962, and prior to September 2, 1964, in connection with the payment in full, prior to maturity, of any mortgage insured under this chapter, if the mortgagor under such mortgage makes the certification prescribed by subsection (a) of this section.
(June 27, 1934, ch. 847, title V, §517, as added Pub. L. 88–560, title I, §120, Sept. 2, 1964, 78 Stat. 782; amended Pub. L. 90–19, §1(a)(3), May 25, 1967, 81 Stat. 17.)
Amendments1967—Subsecs. (a), (b). Pub. L. 90–19 substituted “Secretary” for “Commissioner” wherever appearing.
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