§ 1735f-10. — Purchaserbroker arrangement payments for insurance purposes.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1735f-10]
TITLE 12--BANKS AND BANKING
CHAPTER 13--NATIONAL HOUSING
SUBCHAPTER V--MISCELLANEOUS
Sec. 1735f-10. Purchaser-broker arrangement payments for
insurance purposes
In carrying out the provisions of subchapter II of this chapter with
respect to insuring mortgages secured by a one- to four-family
residence, the Secretary may not exclude from the principal amount which
may be insured under such subchapter any sum solely on the basis that
such sum is to be paid by the purchaser to a broker who has been the
purchaser's agent in the purchase of the residence, but the principal
amount of the mortgage, when such sum is added, shall not exceed the
limitation as to maximum mortgage amount provided in subchapter II of
this chapter.
(June 27, 1934 ch. 847, title V, Sec. 532, as added Pub. L. 97-35, title
III, Sec. 339G, Aug. 13, 1981, 95 Stat. 418.)
Effective Date
Section effective Oct. 1, 1981, see section 371 of Pub. L. 97-35,
set out as a note under section 3701 of this title.
