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Code · U.S. Code · Title 12 - BANKS AND BANKING · CHAPTER 13— NATIONAL HOUSING · SUBCHAPTER VII— INSURANCE FOR INVESTMENTS IN RENTAL HOUSING FOR FAMILIES OF MODERATE INCOME · § 1747b

§ 1747b. Premium charges; fees for examination and inspection

279 words·~1 min read·/usc/title-12/section-1747b

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(a)For insurance granted pursuant to this subchapter the Secretary shall fix and collect a premium charge in an amount not exceeding one-half of 1 per centum of the outstanding investment for the operating year for which such premium charge is payable without taking into account the excess earnings, if any, applied, in addition to the minimum annual amortization charge, to amortization of the outstanding investment. Such premium charge shall be payable annually in advance by the investor, either in cash or in debentures issued by the Secretary under this subchapter at par plus accrued interest: Provided, That, if in any operating year the gross income shall be less than the operating expenses, the premium charge payable during such operating year shall be waived, but only to the extent of the amount of the difference between such expenses and such income and subject to subsequent payment out of any excess earnings as hereinafter provided.
(b)With respect to any project offered for insurance under this subchapter, the Secretary is authorized to charge and collect reasonable fees for examination, and for inspection during the construction of the project: Provided, That such fees shall not aggregate more than one-half of 1 per centum of the estimated investment.
(June 27, 1934, ch. 847, title VII, § 703, as added Aug. 10, 1948, ch. 832, title IV, § 401, 62 Stat. 1277; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17.)
Connections1 cite this
Cited by 1 section
8 references not yet in our index
  • June 27, 1934, ch. 847
  • Aug. 10, 1948, ch. 832
  • 62 Stat. 1277
  • Apr. 20, 1950, ch. 94
  • 64 Stat. 59
  • Pub. L. 90–19, § 1(a)(3)
  • 81 Stat. 17
  • Pub. L. 90–19
Citation graph
cites case law
§ 1747b
Premium charges; fees for examination and inspection
U.S.C.×1
ActJune 27, 1934, ch. 847
ActAug. 10, 1948, ch. 832
Stat.62 Stat. 1277
ActApr. 20, 1950, ch. 94
Stat.64 Stat. 59
Cites 8 · showing 5Cited by 1 across 1 source
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