Pub. L. 85-104, tit. I, sec. 105

other provisions relating to fha insurance programs

EnactedYear: 1957Length: 112 wordsOfficial source
other provisions relating to fha insurance programs Sec. 105. Section 2 of the National Housing Act is amended by redesignating subsection (g) as subsection (h) and by inserting after subsection (f) the following new subsection: “(g) Any payment for loss made after December 31, 1957, to an approved financial institution under this section shall be final and incontestable after two years from the date the claim was certified for payment by the Commissioner, in the absence of fraud or misrepresentation on the part of such institution, unless a demand for repurchase of the obligation shall have been made on behalf of the United States prior to the expiration of such two-year period.”.