---
kind: "section"
citation: "24 C.F.R. § 200.53"
title: "24"
number: "200.53"
heading: "Initial operating funds."
url: "https://uscodex.org/cfr/24/200.53"
---

# §200.53. Initial operating funds.


The mortgagor shall deposit cash with the mortgagee, or in a depository satisfactory to the mortgagee and under control of the mortgagee, in accordance with terms, conditions and standards established by the Commissioner for:

- (a) Accruals for taxes, ground rates, mortgage insurance premiums, and property insurance premiums, during the course of construction;
- (b) Meeting the cost of equipping and renting the project subsequent to its completion in whole or part; and
- (c) Allocation by the mortgagee for assessments required by the terms of the mortgage in an amount acceptable to the Commissioner.

## Notes

### Source

Source: 61 FR 14399, Apr. 1, 1996, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 1702-1715z-21; 42 U.S.C. 3535(d).

### Source

Source: 36 FR 24467, Dec. 22, 1971, unless otherwise noted.