24Corporation may make payment whether or not insured exercised rights

24 Corporation may make payment whether or not insured exercised rights

A contract of insurance in relation to an insurable loan or in relation to an approved security that relates to negotiable mortgage securities may include provision, however expressed, for the making of a payment by the Corporation under the contract notwithstanding that the person insured or any other person has not exercised any or all of that person’s rights in relation to a matter to which the contract relates, other than rights under the contract.