§ 1715t. Voluntary termination of insurance

461 words·~2 min read·/usc/title-12/section-1715t

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

Notwithstanding any other provision of this chapter and with respect to any loan or mortgage heretofore or hereafter insured under this chapter, except under section 1703 of this title and except as specified under section 1715z–15 of this title and subtitle B of the Emergency Low Income Housing Preservation Act of 1987,,1 the Secretary is authorized to terminate any insurance contract upon request by the borrower or mortgagor and the financial institution or mortgagee and upon payment of such termination charge as the Secretary determines to be equitable, taking into consideration the necessity of protecting the various insurance Funds.

Upon such termination, borrowers and mortgagors and financial institutions and mortgagees shall be entitled to the rights, if any, to which they would be entitled under this chapter if the insurance contract were terminated by payment in full of the insured loan or mortgage.

(June 27, 1934, ch. 847, title II, § 229, as added Pub. L. 86–372, title I, § 113, Sept. 23, 1959, 73 Stat. 662; amended Pub. L. 87–70, title VI, § 612(l), June 30, 1961, 75 Stat. 183; Pub. L. 89–117, title XI, § 1108(k), Aug. 10, 1965, 79 Stat. 505; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17; Pub. L. 101–235, title II, § 202(d)(2), Dec. 15, 1989, 103 Stat. 2037.)

Connections13 cite this · traces to 3

Cited by 13 sections · top 9

U.S. Code

statutes-at-large

statute-compilations

Sec. 229
voluntary termination of insurance

Traces to 3 documents

U.S. Code

21 references not yet in our index

1
June 27, 1934, ch. 847
Pub. L. 86–372, title I, § 113
73 Stat. 662
Pub. L. 87–70, title VI, § 612
75 Stat. 183
Pub. L. 89–117, title XI, § 1108(k)
79 Stat. 505
Pub. L. 90–19, § 1(a)(3)
81 Stat. 17
Pub. L. 101–235, title II, § 202(d)(2)
103 Stat. 2037
act June 27, 1934, ch. 847
48 Stat. 1246
Pub. L. 100–242
101 Stat. 1877
Pub. L. 101–625
Pub. L. 101–235
Pub. L. 90–19
Pub. L. 89–117
Pub. L. 87–70

Citation graph

cites case law

§ 1715t

Voluntary termination of insurance

U.S.C.×10

Stat.×2

Stat. Comp.×1

U.S.C.§ 1703

U.S.C.§ 1715z

U.S.C.§ 4101

Cite1

ActJune 27, 1934, ch. 847

Pub. L.Pub. L. 86–372, title I, § 113

Stat.73 Stat. 662

Pub. L.Pub. L. 87–70, title VI, § 612

Cites 24 · showing 8Cited by 13 across 3 sources