Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:110a
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 110A
Character Range: 391701–392600

110A  Reverse mortgages—manner of keeping nominations or revocations
 (1) This regulation is made for the purposes of subsection 185A(1) of the Code.
 (2) If a nomination is current, or a revocation is still in effect because a new nomination of a person has not been made, the record of the nomination or revocation must include:
 (a) a statement that the nomination or revocation is current; and
 (b) the date the nomination or revocation was given.
 (3) If a nomination is revoked, or a revocation is no longer in effect because a new nomination of a person has been made, the record of the nomination or revocation must include:
 (a) the date the nomination was revoked; or
 (b) the date the revocation ceased to have effect because the new nomination was made.
 (4) The record of the nomination or revocation must be kept during the period for which the nomination or revocation is in effect.