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12 U.S.C. § 1734 — Amendment, extension, or increase of commitment amounts

submitted 92 years ago by ch. 847 to r/title-12-BANKS-AND-BANKING · 60 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section covers Amendment, extension, or increase of commitment amounts. It sets out the requirements, permissions, and procedures stated in the section.

At any time before final endorsement for insurance, the Secretary, in his discretion, may amend, extend, or increase the amount of any commitment, provided the mortgage, as finally endorsed for insurance is eligible for insurance under the provisions of this chapter and the rules and regulations under it, in effect at the time the original commitment to insure was issued.
the actual law source: uscode.house.gov ↗public domain

At any time prior to final endorsement for insurance, the Secretary, in his discretion, may amend, extend, or increase the amount of any commitment, provided the mortgage, as finally endorsed for insurance is eligible for insurance under the provisions of this chapter and the rules and regulations thereunder, in effect at the time the original commitment to insure was issued.

Source credit: (June 27, 1934, ch. 847, title V, § 515 as added Oct. 25, 1949, ch. 729, § 3, 63 Stat. 906; amended Pub. L. 90–19, § 1(a)(3), May 25, 1967, 81 Stat. 17; Pub. L. 98–479, title II, § 204(a)(20), Oct. 17, 1984, 98 Stat. 2232.)

history & why it existsrecord from the source credit
  • 1934Enacted · Act of June 27, 1934, ch. 847 · 63 Stat. 906
  • 1967Amended · Pub. L. 90-19 · 81 Stat. 17
  • 1984Amended · Pub. L. 98-479 · 98 Stat. 2232

A history note hasn’t been published yet. The record shows enactment by ch. 847 on 1934-06-27.

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