1. Regulations
  2. title 24
  3. chapter II
  4. part 203
  5. subpart B
  6. subjgrp 111
  7. § 203.462

View all text of Subjgrp 111 [§ 203.440 - § 203.495]

§ 203.462 - Pro rata payment of premium before termination.

No contract of insurance shall be terminated until the lender has paid to the Commissioner the pro rata portion of the current annual insurance premium.

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 203.462