Insurance premiums or guaranty fees

The corporation is authorized to charge and collect insurance premiums on loans in accordance with the federal act and to provide for all matters relative thereto. In the administration of the program, the insurance premium charged may be identified and referred to as a ‘‘guaranty fee.’’ Guaranty fees collected by the corporation shall be credited to the corporation’s loan guaranty fund. (Code 1933, § 32-3311, enacted by Ga. L. 1980, p. 835, § 2.)