Utah Code 73-10c-10. Origination fee
Current as of: 2024 | Check for updates
|
Other versions
(1) The Drinking Water Board and the Water Quality Board may establish an origination fee for a loan to fund the administration of the programs created by this chapter by following the procedures and requirements of Section 63J-1-504 .
Terms Used In Utah Code 73-10c-10
- Board: means the Board of Water Resources created in Section
Utah Code 73-10c-2 - Drinking Water Board: means the Drinking Water Board appointed according to Section
19-4-103 . See Utah Code 73-10c-2 - Water Quality Board: means the Water Quality Board appointed according to Section
19-5-103 . See Utah Code 73-10c-2
(2) The Drinking Water Board may establish an origination fee for a federally funded loan to fund the administration of programs allowed by 42 U.S.C. § 300j-12, and regulations created thereunder, by following the procedures and requirements of Section 63J-1-504 .
(3) An origination fee established in accordance with this section shall be part of the department fee schedule established under Section 19-1-201 .
(4) Notwithstanding the requirements of Section 63J-1-504 , the board shall deposit a fee paid in accordance with this section in the origination fee subaccount created in Section 73-10c-5 and use the fee to administer this chapter.
(5) The loan recipient may pay the origination fee from the loan proceeds.