Maine § 10 §1023-C Loan Insurance Reserve Fund

Maine Statutes

§ 10 §1023-C — Loan Insurance Reserve Fund

Maine § 10 §1023-C

Title 10COMMERCE AND TRADE

Part 2BUILDING AND DEVELOPMENT

Ch. 110FINANCE AUTHORITY OF MAINE

This text of Maine § 10 §1023-C (Loan Insurance Reserve Fund) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 10, § 10 §1023-C (2026).

Text

1.Creation. There is created and established under the jurisdiction and control of the authority the Loan Insurance Reserve Fund.

2.Sources of fund. There shall be paid into the Loan Insurance Reserve Fund:

3.Application of fund. Money in the Loan Insurance Reserve Fund may be applied to carry out any power of the authority, including, without limitation, to pledge or transfer and deposit money in the fund as security for and to apply money in the fund in payment of principal of, interest on or redemption premiums on revenue obligation securities of the authority. Money in the fund not needed currently to meet the obligations of the authority as provided for in this chapter may be invested in such manner as may be permitted by law.

4.Accounts within fund. The authority may divide the L

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1.
Creation.
There is created and established under the jurisdiction and control of the authority the Loan Insurance Reserve Fund.
2.
Sources of fund.
There shall be paid into the Loan Insurance Reserve Fund:
3.
Application of fund.
Money in the Loan Insurance Reserve Fund may be applied to carry out any power of the authority, including, without limitation, to pledge or transfer and deposit money in the fund as security for and to apply money in the fund in payment of principal of, interest on or redemption premiums on revenue obligation securities of the authority. Money in the fund not needed currently to meet the obligations of the authority as provided for in this chapter may be invested in such manner as may be permitted by law.
4.
Accounts within fund.
The authority may divide the Loan Insurance Reserve Fund into such separate accounts as it determines are necessary or convenient for carrying out the purposes of this chapter.
5.
Revolving fund.
The Loan Insurance Reserve Fund shall be a nonlapsing, revolving fund. All money in the fund shall be continuously applied by the authority to carry out this chapter.