§4832. Construction loans
The Maine State Housing Authority may make construction loans to support programs authorized under this chapter and under any terms and conditions that the Maine State Housing Authority may establish by rule.
[PL 2025, c. 614, §1 (AMD).]
1.
Participation requirements.
[PL 2025, c. 614, §1 (RP).]
2.
Rules.
The Maine State Housing Authority shall establish rules in accordance with the Maine Administrative Procedure Act, Title 5, chapter 375, governing, without limitation, the following subjects and procedures for the making of construction loans:
A.
The submission, review and acceptance of requests from borrowers for construction loans under this section;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
B.
Qualifications of borrowers;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
C.
Limitation on and standards for location and construction of housing units or housing projects;
[PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]
D.
Schedules of fees and other charges made by the authority to the borrower in accepting, reviewing and acting upon applications for construction loans under this subchapter; and
[PL 2025, c. 614, §1 (AMD).]
E.
Restrictions on the interest rates charged by financial institutions and the authority on the construction loans or the return on those loans to be realized by a financial institution, if the authority participates with a financial institution in making the construction loan.
[PL 2025, c. 614, §1 (AMD).]
[PL 2025, c. 614, §1 (AMD).]
SECTION HISTORY
PL 1987, c. 737, §§A2,C106 (NEW). PL 1989, c. 6 (AMD). PL 1989, c. 9, §2 (AMD). PL 1989, c. 48, §§4,31 (AMD). PL 1989, c. 104, §§C8,10 (AMD). PL 1989, c. 581, §10 (AMD). PL 2017, c. 234, §27 (AMD). PL 2025, c. 614, §1 (AMD).