§ 220.275. Method of paying insurance benefits.
74 words·~1 min read·
/us/cfr/t24/s§ 220.275·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the application for insurance benefits is acceptable to the Commissioner, all of the insurance claim shall be paid in cash unless the mortgagee files a written request with the application for payment in debentures. If such a request is made, all of the claim shall be paid by issuing debentures and by making a cash payment adjusting any differences between the total amount of the claim and the amount of the debentures issued.