North Dakota § 6-09-43 Health information technology planning loan fund - Appropriation

North Dakota Statutes

§ 6-09-43 — Health information technology planning loan fund - Appropriation

North Dakota·Title 6 Banks and Banking·Ch. 6-09 The Bank of North Dakota

1.The health information technology planning loan fund is established in the Bank for the purpose of providing low-interest loans to health care entities to assist those entities in improving health information technology infrastructure. This fund is a revolving loan fund. All moneys transferred into the fund, interest upon moneys in the fund, and collections of interest and principal on loans made from the fund are appropriated for disbursement according to this section.

2.The Bank shall make loans from this fund to health care entities as approved by the health information technology office director in accordance with the criteria established by the health information technology director under section 54-59-26.

3.The Bank shall administer the health information technology planning loa

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1. The health information technology planning loan fund is established in the Bank for the
purpose of providing low-interest loans to health care entities to assist those entities in
improving health information technology infrastructure. This fund is a revolving loan
fund. All moneys transferred into the fund, interest upon moneys in the fund, and
collections of interest and principal on loans made from the fund are appropriated for
disbursement according to this section.
2. The Bank shall make loans from this fund to health care entities as approved by the
health information technology office director in accordance with the criteria established
by the health information technology director under section 54-59-26.
3. The Bank shall administer the health information technology planning loan fund. Funds
in the loan fund may be used for loans as provided under this section and the costs of
administration of the fund. Annually, the Bank may deduct a service fee for
administering the revolving loan fund maintained under this section.
4. An application for a loan under this section must be made to the health information
technology office. The health information technology office director may approve the
application of a qualified applicant that meets the criteria established by the health
information technology office director. The health information technology office shall
forward approved applications to the Bank. Upon approval of the application by the
Bank, the Bank shall make the loan from the revolving loan fund as provided under
this section.
5. The Bank may do all acts necessary to negotiate loans and preserve security as
deemed necessary, to exercise any right of redemption, and to bring suit in order to
collect interest and principal due the revolving loan fund under mortgages, contracts,
and notes executed to obtain loans under this section. If the applicant's plan for
financing provides for a loan of funds from sources other than the state of North
Dakota, the Bank may make a loan subordinate security interest. The Bank may
recover from the revolving loan fund amounts actually expended by the Bank for legal
fees and to effect a redemption.

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