[§211F-45] Program for capital access participation agreements. The corporation shall enter into agreements with lenders for participation in the program for capital access that shall include but not be limited to:
(1) Authorization for the lender to determine, collect, and transmit to the corporation a fee or premium charge within a specified range established consistent with the purposes and objectives of the corporation;
(2) Specification of whether the premium charge shall be paid by the lender, the borrower, the corporation, or by a combination thereof in specified proportions;
(3) The procedure by which a lender may make a claim upon the corporation upon default by the borrower, and the conditions under which a claim may be made; and
(4) The maximum amount of claims a lender may make upon the corporation, which amount may be equal to or less than the proportion of the total premiums contributed by the corporation. [L 1990, c 110, pt of §3]
Section: Previous 211f-23 211f-31 211f-32 211f-33 211f-41 211f-42 211f-43 211f-44 211f-45 211f-46 211f-51 211f-52 211f-53 NextLast modified: October 27, 2016