24 CFR 1000.412 - Can an issuer obtain a guarantee for more than one note or other obligation at a time?

Regulations last checked for updates: May 18, 2024

Title 24 - Housing and Urban Development last revised: May 07, 2024

View all text of Subpart E [§ 1000.401 - § 1000.436]

§ 1000.412 - Can an issuer obtain a guarantee for more than one note or other obligation at a time?

Yes. To obtain multiple guarantees, the issuer shall demonstrate that:

(a) The issuer will not exceed a total for all notes or other obligations in an amount equal to five times its grant amount, excluding any amount no longer owed on existing notes or other obligations; and

(b) Issuance of additional notes or other obligations is within the financial capacity of the issuer.

authority: 25 U.S.C. 4101

source: 63 FR 12349, Mar. 12, 1998, unless otherwise noted.

cite as: 24 CFR 1000.412