Sec. 530. time of payment of premium charges

181 words·~1 min read·/statute-compilations/comps-10343/sec-530

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## Sec. 530 time of payment of premium charges **[**[12 U.S.C. 1735f–8](/us/usc/t12/s1735f–8)**]** In carrying out the provisions of titles I, II, IV, VII, VIII, IX, and XI 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 titles, 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.

Connections1 off-index

1 reference not yet in our index

12 USC 1735f–8

Citation graph

cites case law

Sec. 530

time of payment of premium charges

Cite12 USC 1735f–8

Cites 1Cited by 0 across 0 sources