N.Y. UDG Law § 10
This is the official text of N.Y. UDG Law § 10, part of New York’s UDG Law — part of the compiled statutory law of New York, published by the state as "UDG Law." Browse the sections below, each linked to its official government source.
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Loan guarantee premium
Official statutory text
§ 10. Loan guarantee premium. The fund is authorized but not required\nto fix premiums for the guarantee of loan repayments under the\nprovisions of this act, such premiums to be computed as a percentage,\nwhich shall not exceed one percentum per annum on that portion of the\nprincipal obligation guaranteed hereunder as the fund shall determine on\nthe basis of all pertinent available data. Such premiums shall be\npayable by the borrower in such manner as shall be prescribed by the\nfund. The amount of premium is not required to be uniform among the\nvarious loans insured provided, however, that that premium provided for\nhereunder shall not be payable more than once on loan guarantees given\nunder subdivision (b) of section eight of this act.\n
Status: in_force · Read it on the official government site
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