Code of Federal Regulations (alpha)

CFR /  Title 24  /  Part 241  /  Sec. 241.1205 Payment of insurance benefits.

All the provisions of Sec. 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.