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12 U.S.C. § 8

Title 12 Chapter 13 Current through PL 116-220 ~1 min read Last updated: March 30, 2026 View on OLRC →
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§ 1735f–8. Time of payment of premium charges

  • (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.

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