§ 5-546. Violation of loan documents; noncompliance with part

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   If an applicant or financial institution violates any provision of the loan documents or ceases to meet the requirements of this part, on reasonable notice to the applicant or financial institution, the Authority may:

   (1) withhold from the applicant further loan payments until the applicant complies with the documents or requirements;

   (2) withhold from the financial institution further interest subsidy payments until the financial institution complies with the loan documents or requirements; and

   (3) exercise any other remedy for which the loan documents provide.

HISTORY: An. Code 1957, art. 83A, § 5-1048; 2008, ch. 306, § 2.

                    
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