Source: https://www.law.cornell.edu/cfr/text/24/203.473
Timestamp: 2016-04-28 20:18:34
Document Index: 121108435

Matched Legal Cases: ['art 203', '§ 203', '§ 203', '§ 203', '§ 203', '§ 203', '§ 203']

24 CFR 203.473 - Claim procedure. | US Law | LII / Legal Information Institute
CFR › Title 24 › Subtitle B › Chapter II › Subchapter B › Part 203 › Subpart B › Section 203.473 24 CFR 203.473 - Claim procedure.
§ 203.473
A claim for insurance benefits on a loan secured by a first mortgage shall be made, and insurance benefits shall be paid, as provided in §§ 203.350 through 203.414.
A claim for insurance benefits on a loan secured by other than a first mortgage shall be made, and insurance benefits shall be paid, as provided in §§ 203.474 through 203.478. However, the lender may not, except with the approval of the Commissioner, proceed against the security and also make claim under the contract of insurance, but shall elect which method it desires to pursue.
[49 FR 21319, May 21, 1984, as amended at 61 FR 35019, July 3, 1996]
§ 203.473 Claim procedure.
(a) A claim for insurance benefits on a loan secured by a first mortgage shall be made, and insurance benefits shall be paid, as provided in §§ 203.350 through 203.414. (b) A claim for insurance benefits on a loan secured by other than a first mortgage shall be made, and insurance benefits shall be paid, as provided in §§ 203.474 through 203.478. However, the lender may not, except with the approval of the Commissioner, proceed against the security and also make claim under the contract of insurance, but shall elect which method it desires to pursue.