Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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| LegalText | 12 U.S.C. § 1747d | Excess earnings used for amortization of original investment | us | united_states_code | code_section | 12 | BANKS AND BANKING | 13 | NATIONAL HOUSING | 1747d | 12 U.S.C. § 1747d | 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/s1747d | data/legal/raw/us/code/title-12/usc12.xml | 68b54ed4f4cfb462cb13076f983b288620fe365235dbc9ae50a9573683b0dde4 | e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa | b2176292c0339fa34e7f56ebca44f2a427afd308ac5dd422d97d435d701c9e9b | 2026-07-04 | official |
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12 U.S.C. § 1747d - Excess earnings used for amortization of original investment
Text
For all of the purposes of any insurance contract made pursuant to this subchapter, 50 per centum of the excess earnings, if any, for any operating year may be applied, in addition to the minimum annual return, to return on the outstanding investment but only to the extent that such application thereof does not result in an annual return of more than 5 per centum of the outstanding investment for such operating year, and the balance of any such excess earnings shall be applied, in addition to the minimum annual amortization charge, to amortization of the outstanding investment: Provided, That if in any preceding operating years the gross income shall have been less than the operating expenses, such excess earnings shall be applied to the extent necessary in whole or in part, first, to the reimbursement of the amount of the difference between such expenses (exclusive of any premium charges previously waived hereunder) and such income, and, second, to the payment of any premium charges previously waived hereunder.
(June 27, 1934, ch. 847, title VII, § 705, as added Aug. 10, 1948, ch. 832, title IV, § 401, 62 Stat. 1277.)