24 CFR 220.760 - Payment of insurance benefits.

§ 220.760 Payment of insurance benefits.
All of the provisions of § 207.259 of this chapter relating to insurance benefits apply to multifamily project mortgages insured under this subpart, except that all of the insurance claim shall be paid in cash unless the mortgagee files a written request with the application for payment in debentures. If such a request is made, all of the claim shall be paid by issuing debentures and by making a cash payment adjusting any differences between the total amount of the claim and the amount of the debentures issued.

Title 24 published on 2014-04-01

no entries appear in the Federal Register after this date.

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