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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 1735a Prepayment of mortgages by nonprofit educational institutions; refunds us united_states_code code_section 12 BANKS AND BANKING 13 NATIONAL HOUSING 1735a 12 U.S.C. § 1735a current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s1735a data/legal/raw/us/code/title-12/usc12.xml 806674959879844634ef52bd41d78765d7c64ec5e3962455377486a2652deb6f e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa e35c50857b49fdfc96a2a1e27ee845da02918a2d33dd293eb71d7038d2fe9875 2026-07-04 official
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12 U.S.C. § 1735a - Prepayment of mortgages by nonprofit educational institutions; refunds

Text

(a) Notwithstanding any other provision of this chapter, no adjusted premium charge shall be collected in connection with the payment in full, prior to maturity, of any mortgage insured under this chapter, if the mortgagor certifies to the Secretary that the loan was paid in full by or on behalf of a nonprofit educational institution which intends to use the property for educational purposes.

(b) The Secretary shall refund any adjusted premium charge collected subsequent to July 1, 1962, and prior to September 2, 1964, in connection with the payment in full, prior to maturity, of any mortgage insured under this chapter, if the mortgagor under such mortgage makes the certification prescribed by subsection (a).

(June 27, 1934, ch. 847, title V, § 517, as added Pub. L. 88560, title I, § 120, Sept. 2, 1964, 78 Stat. 782; amended Pub. L. 9019, § 1(a)(3), May 25, 1967, 81 Stat. 17.)

Notes

Editorial Notes

Amendments1967—Subsecs. (a), (b). Pub. L. 9019 substituted “Secretary” for “Commissioner” wherever appearing.