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154.20.080 Agreements with lenders -- Provisions included.

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154.20-080 Agreements with lenders -- Provisions included. The authority may enter into agreements with lenders for participation in loan insurance. <br>The agreements may include, but need not be limited to: <br>(1) Authorization for the lender to determine, collect, and transmit to the authority a fee or premium charge within a specified range established consistent with the purposes <br>and objectives of the authority; (2) Specification of whether the premium charge shall be paid by the lender, the borrower, the authority, or by a combination thereof in specified proportions; (3) The procedure by which a lender may make a claim upon the authority upon default by the borrower and the conditions under which a claim may be made; (4) The maximum amount of claims a lender may make upon the authority, which amount may be equal to, greater than, or less than the proportion of the total <br>premiums collected by the authority which is accounted for by premiums collected <br>by the lender. Effective: July 5, 1988 <br>History: Created 1988 Ky. Acts ch. 383, sec. 13, effective July 15, 1988. <br>Formerly codified as KRS 154.055