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2881 — New York Law | CourtGPT
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  5. Article 28-b - Hospital Mortgage Loan Construction2874-a - Mortgage Loans to Eligible Secured Hospital Borrowers/
  6. 2881
New York Legal Code

2881

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The commissioner may, by regulation, establish and charge to eligible borrowers, for the period from occupancy date to mortgage discharge, a fee for inspection, regulation, supervision and audit not to annually exceed two-tenths of one percent of the mortgage loan to recover the departmental costs in performing these functions in relation to any hospital project financed or refinanced by a loan made under this article prior to April first, two thousand fourteen. Notwithstanding the foregoing, no such fee shall be charged or payable pursuant to this section with respect to a hospital project financed or refinanced with bonds issued on or after April first, two thousand fourteen.