1. Regulations
  2. title 24
  3. chapter II
  4. part 203
  5. subpart B
  6. subjgrp 104
  7. § 203.424

View all text of Subjgrp 104 [§ 203.420 - § 203.427]

§ 203.424 - Maximum amount of distributive shares.

In no event shall a distributive share of the Participating Reserve Account exceed the aggregate scheduled annual premiums of the mortgagor to the year of termination of the insurance.

AUTHORITY: 12 U.S.C. 1707, 1709, 1710, 1715b, 1715z-16, 1715u, and 1715z-21; 15 U.S.C. 1639c; 42 U.S.C. 3535(d).

SOURCE: 36 FR 24508, Dec. 22, 1971, unless otherwise noted.

CITE AS: 24 CFR 203.424