Title 13, Planning And Economic Development

§207-16 Construction. Nothing in this part shall require any corporation to qualify to do business in this State, or subject any person, firm, corporation, or trust to taxation under any law of this State if, but for the enactment of this chapter, the person, firm, corporation, o…

§207-2 Qualifications for loans. To qualify for a loan under this part an applicant must: (1) Be of legal age and have at least one person who will occupy the premises with the applicant and who is related to the applicant by blood or marriage and solely dependent upon the applic…

§207-3 Purpose for and terms of loans. [(a)] Loans of state funds made pursuant to this part may be granted only for construction of residences upon the premises. Loans shall be secured by a mortgage which may be subordinate only to another mortgage given to a lending institution…

§207-4 Contract with lending institution. The director of finance may, and as far as practicable shall, contract with lending institutions for the processing of applications for loans of state funds and the servicing of these loans. The servicing shall be performed only by the le…

§207-5 Rules and regulations. The director of finance may adopt, amend, or repeal such rules and regulations governing the granting of loans and other related functions as the director of finance considers necessary or suitable. The rules and regulations when approved by the gove…

§207-6 Bond authorization. The director of finance may with the approval of the governor, issue from time to time general obligation bonds pursuant to chapter 39, part I not exceeding $500,000 for the granting of loans pursuant to the purposes of this part. [L 1961, c 194, §7; am…