Program for capital access participation agreements
HRS §206M-84
in effect206M-84. Program for capital access participation agreements
The development 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 development corporation a fee or premium charge
within a specified range established consistent with the purposes and
objectives of the development corporation;
(2) Specification of whether the premium charge shall
be paid by the lender, the borrower, the development corporation, or by a
combination thereof in specified proportions;
(3) The procedure by which a lender may make a claim
upon the development 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 development corporation, which amount may be equal to or less than the
proportion of the total premiums contributed by the development corporation.
[L 2019, c 56, pt of §2]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol04_Ch0201-0257/HRS0206M/HRS_0206M-0084.htmFetched: 11/10/2026