24 C.F.R. § 241.1205 Payment of insurance benefits.
Title 24 - Housing and Urban Development
All the provisions of §207.259 of this chapter relating to insurance benefits shall apply to an equity or acquisition loan insured under subpart F of this part, except that insurance benefits shall be payable in cash if the insurance benefits under the senior insured mortgage are payable in cash, unless the lender files a written request for payment in debentures. If such a request is made, payment shall be made in debentures with a cash payment to adjust for any difference between the total amount of the insurance payment and the amount of the debentures issued.
Title 24: Housing and Urban Development
PART 241—SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES
Subpart F—Insurance for Equity Loans and Acquisition Loans—Contract Rights and Obligations
§ 241.1205 Payment of insurance benefits.
