1. Regulations
  2. title 24
  3. chapter II
  4. part 232
  5. subpart C
  6. subjgrp 176
  7. § 232.530

View all text of Subjgrp 176 [§ 232.525 - § 232.586]

§ 232.530 - Disbursement of proceeds.

At the time of endorsement for insurance of the note by the Commissioner, the entire principal amount of the note shall have been disbursed to the borrower or to his creditors for his account and with his consent.

AUTHORITY: 12 U.S.C. 1715b, 1715w, 1735d, and 1735f-19; 42 U.S.C. 3535(d).

SOURCE: 36 FR 24618, Dec. 22, 1971, unless otherwise noted.

CITE AS: 24 CFR 232.530