§ 221.780. Issuance of debentures.
71 words·~1 min read·
/us/cfr/t24/s§ 221.780·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Upon the exercise of the assignment option and the satisfactory performance of the requirements as to assignment set out in § 207.258 of this chapter, the Commissioner shall issue the assignor mortgagee debentures having a total par value equal to the amount of the original principal obligation of the mortgage which was unpaid on the date of the assignment, plus accrued interest to such date. \[59 FR 49816, Sept. 30, 1994\]