Title 30-A: MUNICIPALITIES AND COUNTIES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
Part 2: MUNICIPALITIES HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
Subpart 8: DEVELOPMENT HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
Chapter 201: HOUSING AUTHORITY HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
Subchapter 5: LOANS TO FINANCIAL INSTITUTIONS HEADING: PL 1987, C. 737, PT. A, §2 (NEW)
§4802. Institutional loans
1.Loans authorized.
The Maine State Housing Authority may make loans to financial institutions for the purpose of providing mortgage funds for
the financing of housing units or housing projects for persons or families of low income. These loans are referred to in
this subchapter as "institutional loans." Financial institutions receiving or to receive such loans are referred to in this
subchapter as "participating financial institutions." A participating financial institution which does not maintain a regular
place of business in the State must contract for the origination of mortgage loans with a financial institution with a regular
place of business in the State.
[
1987, c. 737, Pt. A, §2 (NEW);
1987, c. 737, Pt. C, §106 (NEW);
1989, c. 6, (AMD);
1989, c. 9, §2 (AMD);
1989, c. 104, Pt. C, §§8, 10 (AMD)
.]
2.Eligible mortgage loans.
Eligible mortgage loans under this subchapter are mortgage loans for the purpose of:
A. Acquiring one-family or multi-family housing units, housing projects and improvements located on an Indian reservation in
the State; [1987, c. 737, Pt. A, §2 (NEW); 1987, c. 737, Pt. C, §106 (NEW); 1989, c. 6, (AMD); 1989, c. 9, §2 (AMD); 1989, c. 104, Pt. C, §§8, 10 (AMD).]
B. Rehabilitating housing units or housing projects or to promote the conservation of energy resources; [1987, c. 737, Pt. A, §2 (NEW); 1987, c. 737, Pt. C, §106 (NEW); 1989, c. 6, (AMD); 1989, c. 9, §2 (AMD); 1989, c. 104, Pt. C, §§8, 10 (AMD).]
C. Constructing, reconstructing or developing housing units or housing projects; and [1987, c. 737, Pt. A, §2 (NEW); 1987, c. 737, Pt. C, §106 (NEW); 1989, c. 6, (AMD); 1989, c. 9, §2 (AMD); 1989, c. 104, Pt. C, §§8, 10 (AMD).]
D. Purchasing manufactured housing. [1987, c. 737, Pt. A, §2 (NEW); 1987, c. 737, Pt. C, §106 (NEW); 1989, c. 6, (AMD); 1989, c. 9, §2 (AMD); 1989, c. 104, Pt. C, §§8, 10 (AMD).]
[
1987, c. 737, Pt. A, §2 (NEW);
1987, c. 737, Pt. C, §106 (NEW);
1989, c. 6, (AMD);
1989, c. 9, §2 (AMD);
1989, c. 104, Pt. C, §§8, 10 (AMD)
.]
SECTION HISTORY
1987, c. 737, §§A2,C106 (NEW).
1989, c. 6, (AMD).
1989, c. 9, §2 (AMD).
1989, c. 104, §§C8,10 (AMD).
Data for this page extracted on 10/16/2012 08:32:33.