24 CFR § 203.427 - Statute of limitations on payment of distributive shares.

---
identifier: "/us/cfr/t24/s203.427"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 203.427 - Statute of limitations on payment of distributive shares."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "203.427"
section_name: "Statute of limitations on payment of distributive shares."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
subchapter_number: "B"
subchapter_name: "MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES"
part_number: "203"
part_name: "SINGLE FAMILY MORTGAGE INSURANCE"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1707, 1709, 1710, 1715b, 1715z-16, 1715u, and 1715z-21; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)."
regulatory_source: "36 FR 24508, Dec. 22, 1971, unless otherwise noted."
cfr_part: "203"
---


# 203.427 Statute of limitations on payment of distributive shares.

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.

[59 FR 49816, Sept. 30, 1994]