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(f) This part does not prohibit the comptroller from issuing a warrant or initiating an Digital money transfer to pay:
(F) A registrant may possibly require the borrower to provide insurance policy or a loss payable endorsement covering reasonable threats of loss, hurt, and destruction of home employed as security for the loan and with the consent of your borrower these insurance policy could address assets apart from that that is protection with the loan. The amount and time period of essential assets insurance plan shall be sensible in relation to the quantity and expression of your loan contract and the sort and worth of the security, as well as the insurance plan shall be procured in accordance with the insurance policy laws of this point out.
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The resulting loan agreement shall be considered a completely new and individual loan transaction for applications of the part. The unpaid principal balance of a precomputed loan could be the balance thanks immediately after refund or credit history of unearned desire as presented in division (D)(three) of this portion.
(E) A registrant, on the ask for with the borrower, might receive, on one or more borrowers, credit history life coverage, credit history incident and health insurance plan, and unemployment insurance policy. The quality or identifiable demand to the insurance policy can be included in the principal quantity of the loan and should not exceed the top quality rate submitted by the insurer Along with the superintendent of insurance rather than disapproved via the superintendent. If a registrant obtains the insurance on the request of the borrower, the borrower shall have the proper to cancel the insurance policies to get a duration of 20-five days after the loan is made.
four. There are no nondiscrimination rules for government loan plans. Loans is usually offered to chose teams of executives or perhaps a single executive. The terms, amounts, and circumstances of executive loans may be diversified from one particular govt to a different because the employer needs.
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(d) under the loan agreement, loan proceeds may be utilized only to obtain The manager's new principal residence; and
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(h) This segment doesn't prohibit the comptroller from issuing a warrant or initiating an electronic cash transfer if:
(two) The loan or loans shall be for your interval not to exceed the motion of the Federal Bureau of Supplemental Security Cash flow approving or disapproving guidance underneath its application;
(b) A point out company that is prohibited by Subsection (a) from earning a payment to someone also is prohibited from paying out any Element of that payment to: