[§201H-96]  Eligible improvement loans. (a)  The corporation shall establish requirements for property financed by aneligible improvement loan, and may consider the location, age, condition,value, and other characteristics of the property.

(b)  The corporation shall establishrestrictions on the terms, maturities, interest rates, collateral, and otherrequirements for eligible improvement loans.

(c)  All eligible improvement loans made shallcomply with applicable state and federal laws. [L 2006, c 180, pt of §4]