* § 5-b. Health maintenance organization loans.
1.The agency may make\nHmo investment loans to lending institutions for the purpose of\nfinancing an Hmo project. In connection with the making of investment\nloans and commitments therefor to lending institutions, the agency may\nmake and collect from such lending institutions such fees and charges\nincluding, but not limited to, reimbursement of all costs of financing\nby the agency and service charges, as the agency shall determine to be\nreasonable.\n 2. In addition to the powers of the agency to make Hmo investment\nloans pursuant to other provisions of this act, the agency may make\nloans and undertake commitments to make loans to owners of Hmo projects,\nwhich loans may be but are not limited to mortgage loans, mortgage loans\ninsu
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* § 5-b. Health maintenance organization loans. 1. The agency may make\nHmo investment loans to lending institutions for the purpose of\nfinancing an Hmo project. In connection with the making of investment\nloans and commitments therefor to lending institutions, the agency may\nmake and collect from such lending institutions such fees and charges\nincluding, but not limited to, reimbursement of all costs of financing\nby the agency and service charges, as the agency shall determine to be\nreasonable.\n 2. In addition to the powers of the agency to make Hmo investment\nloans pursuant to other provisions of this act, the agency may make\nloans and undertake commitments to make loans to owners of Hmo projects,\nwhich loans may be but are not limited to mortgage loans, mortgage loans\ninsured by the federal government or leasehold mortgage loans. Such\nloans shall be of such terms and conditions, and shall be secured in\nsuch manner as is satisfactory to the agency.\n 3. The agency shall not make a loan or Hmo investment loan pursuant to\nthis section unless (a) the commissioner has approved the Hmo project\npursuant to section twenty-eight hundred two of the public health law in\nany case where the project is subject to the provisions of such section\nor has approved the project according to guidelines prescribed by the\ncommissioner in any other case, and (b) the agency finds that the\nestimated revenues of the Hmo project or the Hmo investment loan, as the\ncase may be, will be sufficient to cover all installments of principal\nand interest on the indebtedness issued relating to the Hmo project, and\n(c) the indebtedness issued relating to the Hmo project has received an\ninvestment grade rating from a recognized rating agency, or the loan or\nthe Hmo investment loan made by the agency is fully secured as to\nprincipal and interest by the general credit of a bank, national bank,\ntrust company, savings bank, savings and loan association, insurance\ncompany, governmental agency of the United States of America, or a\ncombination thereof.\n * NB There are two § 5-b's\n