Loan Amounts and Conditions

4 CMC § 8164 — under Commonwealth Utilities Corporation.

4 CMC § 8164

TITLE 4: ECONOMIC RESOURCES

DIVISION 8: UTILITIES

§ 8164. Loan Amounts and Conditions. A maximum amount of loan per applicant per house shall not exceed $5,000, depending on the demonstrated need and the ability to pay of the applicant. An applicant shall receive not more than one loan per water catchment tank including the booster pump. Should the loan applicant rent, lease or sell the residential dwelling to a person outside of his or her immediate household or sell the water catchment tank or booster pump, the entire loan amount shall immediately become due and payable. Source: PL 9-42, § 3 (§ 8164).