HRS §514D-4
State fund for condominium loans
This section creates a special state fund for condominium loans. Money goes into the fund from loan repayments, interest, legislative appropriations, and investment earnings. The fund pays for loans, credit enhancements, and program administrative costs.
condominium associationscondominium ownersstate agencies
The statute, as written — Condominium loan revolving fund
(a) There is established in the state treasury the condominium loan revolving fund, into which shall be deposited: (1) Moneys received as repayment of loans and interest payments as provided in this chapter; (2) Appropriations made by the legislature to the condominium loan revolving fund; and (3) All interest and investment earnings credited to the assets of the fund. (b) Moneys in the condominium loan revolving fund shall be expended by the authority for: (1) The purposes of providing loans and credit enhancements in accordance with this chapter; and (2) Paying administrative costs of the condominium loan program.
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