24 CFR 242.67

§ 242.67 New corporations, subsidiaries, affiliations, and mergers.

United States · 24 CFR — Housing and Urban Development · Status: effective

Cite this

Citation: 24 CFR 242.67, § 242.67 New corporations, subsidiaries, affiliations, and mergers, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/100246
Permanent ID: ys:prov:100246@1
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Full text

The mortgagor shall not establish, develop, organize, acquire, become the sole member of, or acquire an interest sufficient to require disclosure on the audited financial statements of the mortgagor, in any corporation, subsidiary, or affiliate organization other than those with which the mortgagor was affiliated as of date of application, without the prior approval of HUD. The mortgagor shall obtain HUD's written approval for all future mergers.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.