LD 1766
pg. 14
Page 13 of 21 PUBLIC Law Chapter 537 Page 15 of 21
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LR 2611
Item 1

 
outstanding, loan insurance obligations pursuant to
this division exceeding $1,000,000; and

 
(2) In the case of insurance provided pursuant to section
1026-C, $25,000; or Ninety percent of the principal
amount of the loan made to any borrower, including
related entities for any other manufacturing
enterprise, industrial enterprise, recreational
enterprise, fishing enterprise, agricultural
enterprise, natural resource enterprise or any other
eligible business enterprise;

 
(3) In the case of insurance provided pursuant to section
1026-D, $1,000,000;

 
B. The loan shall must be serviced as required by the
authority; and

 
C. Such other terms as may be required by law or by the
authority.

 
D.__The authority must determine that there is a reasonable
prospect that the loan will be repaid;

 
E.__The loan must be in compliance with the credit policy of
the authority;

 
F.__Loan insurance payments may not exceed the lesser of:

 
(1)__Principal, outstanding accrued interest and
collection costs approved by the authority; and

 
(2)__The original insured amount; and

 
G.__Terms other than those specified in paragraphs A to F as
may be required by law or by rule of the authority.

 
The authority may provide insurance for related entities of up to
$7,000,000.

 
Notwithstanding any provision to the contrary in this chapter,
the authority may provide special loan insurance benefits to
veterans and wartime veterans determined by rule of the authority
developed in consultation with the Department of Defense,
Veterans and Emergency Management, Bureau of Maine Veterans'
Services.

 
For all loan insurance liability in excess of $1,000,000 and in
other instances when the authority determines it is appropriate,
the authority shall obtain a written assessment from the


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