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12 U.S.C. § 1747d

Excess earnings used for amortization of original investment

Ch. 13 — NATIONAL HOUSING
Title 12 U.S.C. ● ACTIVE Primary Source Ch. 13
Statutory Text

12 U.S.C. § 1747d — Excess earnings used for amortization of original investment

U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition Title 12 - BANKS AND BANKING CHAPTER 13 - NATIONAL HOUSING SUBCHAPTER VII - INSURANCE FOR INVESTMENTS IN RENTAL HOUSING FOR FAMILIES OF MODERATE INCOME Sec. 1747d - Excess earnings used for amortization of original investment From the U.S. Government Publishing Office, www.gpo.gov

§1747d. Excess earnings used for amortization of original investment

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.)

Source: uscode.house.gov — public domain Official Source ↗
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12 U.S.C. § 1747d
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56e0ea403c981bb4...
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The statutory text of 12 U.S.C. § 1747d is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 12 U.S.C. § 1747c 12 U.S.C. § 1747e →
Ch. 13 — NATIONAL HOUSING
12 U.S.C. § 170112 U.S.C. § 1701a12 U.S.C. § 1701b12 U.S.C. § 1701c12 U.S.C. § 1701c112 U.S.C. § 1701d12 U.S.C. § 1701d112 U.S.C. § 1701d312 U.S.C. § 1701d412 U.S.C. § 1701e12 U.S.C. § 1701f112 U.S.C. § 1701g12 U.S.C. § 1701g412 U.S.C. § 1701g512 U.S.C. § 1701g5a12 U.S.C. § 1701g5b12 U.S.C. § 1701g5c12 U.S.C. § 1701h12 U.S.C. § 1701h112 U.S.C. § 1701i12 U.S.C. § 1701j12 U.S.C. § 1701j112 U.S.C. § 1701j212 U.S.C. § 1701j312 U.S.C. § 1701k12 U.S.C. § 1701l12 U.S.C. § 1701l112 U.S.C. § 1701m12 U.S.C. § 1701n12 U.S.C. § 1701o
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boisestandard.org → United States → Law → U.S. Code → Title 12 → 12 U.S.C. § 1747d