New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter L - New York State Urban Development Corporation
Part 4209 - Regional Revolving Loan Trust Fund
Section 4209.9 - Fees , Interest, and Administrative Expenses

Universal Citation: 21 NY Comp Codes Rules and Regs ยง 4209.9

Current through Register Vol. 45, No. 52, December 27, 2023

(a) Regional corporations shall maintain all interest earned on funds deposited into a loan fund account in that loan fund account, and shall use such funds only for the purpose of providing assistance to eligible projects.

(b) Regional corporations shall deposit all interest earned on working capital loans to eligible businesses into an interest repayment account. A regional corporation may use any interest deposited into an interest repayment account for the cost of administering a regional revolving loan program.

(c) A regional corporation may charge application, commitment, and loan guarantee fees pursuant to a schedule of fees adopted by the regional corporation and approved by the corporation.

Renumbered from 4209.10 New York State Register July 11, 2018/Volume XL, Issue 28, eff. 7/11/2018

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