§232.530. Disbursement of proceeds.
24 C.F.R. § 232.530
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.
Notes, amendments, and revision history
Source
Source: 39 FR 28966, Aug. 12, 1974, unless otherwise noted.
Authority
Authority: 12 U.S.C. 1715b, 1715w, 1735d, and 1735f-19; 42 U.S.C. 3535(d).
Source
Source: 36 FR 24618, Dec. 22, 1971, unless otherwise noted.