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Haw. Rev. Stat. § 514D-2

Powers; rulemaking

L 2025, c 296, pt of §19

In addition to any other powers authorized by law, the authority may:

(1) Contract with any community development financial institution for services, including servicing or administering loans pursuant to this part; and

(2) Adopt rules pursuant to chapter 91 to effectuate this chapter, including but not limited to rules relating to:

(A) Determinations of any other maintenance or repairs that qualify for financing or refinancing under this chapter;

(B) The establishment of interest rates chargeable by the authority for direct loans under this part and by the participating community development financial institutions for loans under part II;

(C) The establishment of restrictions on the terms, maturities, collateral, and other requirements not inconsistent with this part;

(D) Procedures for validating a qualified condominium association's compliance with the obligation to increase its replacement reserves balance;

(E) Determinations of eligibility of a community development financial institution to participate in the condominium loan loss reserves program;

(F) Eligibility participation criteria for loans issued by an eligible community development financial institution to a qualified condominium association; and

(G) The authorization of a single community development financial institution or a consortium of community development financial institutions to participate in the condominium loan loss reserves program subject to condominium loan loss reserves program guidelines.

Official source: Hawaii State Legislature. Reproduced from public-domain Hawaii statutes; confirm against the official source for the current text. Not legal advice.