N.Y. Urban development guarantee fund of New York 175/68 Law § 10
Loan guarantee premium
New York · New York Urban development guarantee fund of New York 175/68 Law · Status: effective · Effective 2014-09-22
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- N.Y. Urban development guarantee fund of New York 175/68 Law § 10, Loan guarantee premium, New York, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/1135339
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§ 10. Loan guarantee premium. The fund is authorized but not required
to fix premiums for the guarantee of loan repayments under the
provisions of this act, such premiums to be computed as a percentage,
which shall not exceed one percentum per annum on that portion of the
principal obligation guaranteed hereunder as the fund shall determine on
the basis of all pertinent available data. Such premiums shall be
payable by the borrower in such manner as shall be prescribed by the
fund. The amount of premium is not required to be uniform among the
various loans insured provided, however, that that premium provided for
hereunder shall not be payable more than once on loan guarantees given
under subdivision (b) of section eight of this act.