
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC1735a]

 
                       TITLE 12--BANKS AND BANKING
 
                      CHAPTER 13--NATIONAL HOUSING
 
                       SUBCHAPTER V--MISCELLANEOUS
 
Sec. 1735a. Prepayment of mortgages by nonprofit educational 
        institutions; refunds
        
    (a) Notwithstanding any other provision of this chapter, no adjusted 
premium charge shall be collected in connection with the payment in 
full, prior to maturity, of any mortgage insured under this chapter, if 
the mortgagor certifies to the Secretary that the loan was paid in full 
by or on behalf of a nonprofit educational institution which intends to 
use the property for educational purposes.
    (b) The Secretary shall refund any adjusted premium charge collected 
subsequent to July 1, 1962, and prior to September 2, 1964, in 
connection with the payment in full, prior to maturity, of any mortgage 
insured under this chapter, if the mortgagor under such mortgage makes 
the certification prescribed by subsection (a) of this section.

(June 27, 1934, ch. 847, title V, Sec. 517, as added Pub. L. 88-560, 
title I, Sec. 120, Sept. 2, 1964, 78 Stat. 782; amended Pub. L. 90-19, 
Sec. 1(a)(3), May 25, 1967, 81 Stat. 17.)


                               Amendments

    1967--Subsecs. (a), (b). Pub. L. 90-19 substituted ``Secretary'' for 
``Commissioner'' wherever appearing.
