Section 4-908 - Powers of Department - Program loans in general. - Maryland Statutes

§ 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. 
 

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