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<section article="ghs" article_name="Housing and Community Development" number="3-206" title_number="3" title_name="Division of Credit Assurance" subtitle_number="2" subtitle_name="Maryland Housing Fund">
  <level label="a">
    <text>In offering insurance and other forms of credit enhancement, the Department shall adopt eligibility standards that are reasonable to aid in:</text>
    <level label="1">
      <text>financing the purchase, construction, or rehabilitation of:</text>
      <level label="i">
        <text>housing projects;</text>
      </level>
      <level label="ii">
        <text>special housing facility projects, consisting of the acquisition, rehabilitation, improvement, renovation, construction, financing, or refinancing of a building that:</text>
        <level label="1">
          <text>provides common, shared, or independent living, dining, kitchen, sanitary, and sleeping facilities;</text>
        </level>
        <level label="2">
          <text>may include supportive services or supervisory live–in personnel for individuals with specialized housing needs; and</text>
        </level>
        <level label="3">
          <text>may include nonresidential facilities to serve individuals with special needs who may or may not be residents of the special housing facility;</text>
        </level>
      </level>
      <level label="iii">
        <text>rehabilitation projects, as defined in § 4–901 of this article;</text>
      </level>
      <level label="iv">
        <text>energy conservation projects;</text>
      </level>
      <level label="v">
        <text>solar energy projects;</text>
      </level>
      <level label="vi">
        <text>public purpose projects;</text>
      </level>
      <level label="vii">
        <text>infrastructure projects; or</text>
      </level>
      <level label="viii">
        <text>business projects; and</text>
      </level>
    </level>
    <level label="2">
      <text>the sale or other transfer of an obligation that is:</text>
      <level label="i">
        <text>denoted as a bond, note, collateralized obligation, grantor trust, conduit, or other form of security or obligation; and</text>
      </level>
      <level label="ii">
        <text>backed directly or indirectly by a mortgage or a payment derived from a mortgage.</text>
      </level>
    </level>
  </level>
  <level label="b">
    <text>The standards adopted under subsection (a) of this section shall ensure that a lender benefiting from insurance or other credit enhancement provided by the Department is responsible and able to service the loan.</text>
  </level>
  <level label="c">
    <text>A determination by the Secretary is conclusive if it relates to the eligibility of a project, facility, or undertaking for:</text>
    <level label="1">
      <text>insurance or other credit enhancement; or</text>
    </level>
    <level label="2">
      <text>other action taken by the Department, in its own name or in the name of the Fund, under this subtitle.</text>
    </level>
  </level>
</section>
