§203.400. Method of payment.
24 C.F.R. § 203.400
If the application for insurance benefits is acceptable to the Commissioner, payment of the insurance claim shall be made in cash, in debentures, or in a combination of both, as determined by the Commissioner either at, or prior to, the time of payment.
An insurance claim paid on a mortgage insured under section 223(e) of the National Housing Act shall be paid in cash from the Special Risk Insurance Fund.
Notes, amendments, and revision history
Amendments
[80 FR 51468, Aug. 25, 2015]
Authority
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
Source: 36 FR 24508, Dec. 22, 1971, unless otherwise noted.
Amendments
[80 FR 51468, Aug. 25, 2015]