§ 4-908. Powers of Department -- Program loans in general

   The Department may:

   (1) limit the return on equity allowed to, or enter into equity participation agreements with, sponsors and nonprofit sponsors;

   (2) require and obtain appraisals, credit and title information, and other information related to making Program loans;

   (3) contract for services relating to any aspect of the operation of the Program under the procedures required by law for State contracts;

   (4) charge and collect:

      (i) reasonable application and processing fees; and

      (ii) other charges, fees, or reimbursements incidental to Program loans; and

   (5) if necessary, limit the cumulative outstanding debt for Program loans made to a trust described in 42 U.S.C. § 1396p(d)(4) to preserve the ongoing financial viability of the Program.

HISTORY: An. Code 1957, art. 83B, § 2-311(2)-(5); 2005, ch. 26, § 2; 2006, ch. 470.