Section 204-C:18 Conditions on Purchase of Mortgage or Loan.
At or before the time of purchase of any loan or mortgage loan, the lending institution which made such loan or mortgage loan shall certify to the authority with respect to all loans or mortgage loans transferred to the authority:
I. That the loans or mortgage loans transferred to the authority are primarily for housing for eligible persons and families within the state; or
II. That the proceeds of such purchase will be reinvested in loans or mortgage loans for housing eligible persons and families.
Source. 1981, 466:2, eff. July 1, 1981.