24 CFR 203.427

§ 203.427 Statute of limitations on payment of distributive shares.

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

Cite this

Citation: 24 CFR 203.427, § 203.427 Statute of limitations on payment of distributive shares, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/99616
Permanent ID: ys:prov:99616@1
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Full text

The Commissioner shall not distribute any distributive share to an eligible mortgagor under § 203.423 beginning on the date which is six years after the date the Commissioner first transmitted written notification of eligibility to the last known address of the mortgagor, unless the mortgagor has applied in accordance with procedures prescribed by the Commissioner for payment of the share within the six-year period. The Commissioner shall transfer any amounts no longer eligible for distribution under this section from the Participating Reserve Account to the General Surplus Account.

Legislative history

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