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Rule 47
Refund of Claim Payment
: 1) According to rule 43, among the loans received from the Fund, if the partial loan is uncollected, the percentage of the amount of the uncollected amount will be the amount incurred when the Fund pays the claim, and if the entire loan amount is uncollected, the amount received for payment of the claim. The related member organization shall return the entire amount to the fund within thirty-five days from the date of loan cancellation along with the details as per Schedule-15.
(2) If the committee determines that a loan cannot be recovered due to the failure of the related member organization to fulfill its obligations and the fund has suffered loss, the related member organization shall return to the fund the amount paid by the fund to such organization for the claim payment of such loan within the period specified by the fund. Added by First Amendment. 7 Amended by First Amendment. (3) If the respective member organization owns the movable and immovable property secured by the loan for which claim payment has been received from the fund, it shall return the entire amount received for the claim payment to the fund within thirty-five days from the date of such ownership.
(2) If the committee determines that a loan cannot be recovered due to the failure of the related member organization to fulfill its obligations and the fund has suffered loss, the related member organization shall return to the fund the amount paid by the fund to such organization for the claim payment of such loan within the period specified by the fund. Added by First Amendment. 7 Amended by First Amendment. (3) If the respective member organization owns the movable and immovable property secured by the loan for which claim payment has been received from the fund, it shall return the entire amount received for the claim payment to the fund within thirty-five days from the date of such ownership.