2013 Hawaii Revised Statutes
TITLE 13. PLANNING AND ECONOMIC DEVELOPMENT
211F. Hawaii Strategic Development Corporation
211F-45 Program for capital access participation agreements.
§211F-45 Program for capital access participation agreements. The corporation shall enter into agreements with lenders for participation in the program for capital access that shall include but not be limited to:
(1) Authorization for the lender to determine, collect, and transmit to the corporation a fee or premium charge within a specified range established consistent with the purposes and objectives of the corporation;
(2) Specification of whether the premium charge shall be paid by the lender, the borrower, the corporation, or by a combination thereof in specified proportions;
(3) The procedure by which a lender may make a claim upon the corporation upon default by the borrower, and the conditions under which a claim may be made; and
(4) The maximum amount of claims a lender may make upon the corporation, which amount may be equal to or less than the proportion of the total premiums contributed by the corporation. [L 1990, c 110, pt of §3]
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