2018 US Code
Title 12 - Banks and Banking
Chapter 13 - National Housing
Subchapter V - Miscellaneous
Sec. 1735a - Prepayment of mortgages by nonprofit educational institutions; refunds
| 12 U.S.C. § 1735a (2018) |
| §1735a. Prepayment of mortgages by nonprofit educational institutions; refunds |
|
(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). |
|
(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.) |
|
AMENDMENTS
1967—Subsecs. (a), (b). Pub. L. 90–19 substituted "Secretary" for "Commissioner" wherever appearing. |
| United States Code, 2018 Edition, Title 12 - BANKS AND BANKING |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 12 - BANKS AND BANKING CHAPTER 13 - NATIONAL HOUSING SUBCHAPTER V - MISCELLANEOUS Sec. 1735a - Prepayment of mortgages by nonprofit educational institutions; refunds |
| section 1735a |
| 2018 |
| January 14, 2019 |
| No |
| standard |
| 78 Stat. 782 81 Stat. 17 |
| Public Law 88-560, Public Law 90-19 |
