Article 18B - MORTGAGE AND INDUSTRIAL DEVELOPMENT INVESTMENT POOL
- Section 31-18B-1 - Legislative intent
- Section 31-18B-2 - Establishment of state mortgage and industrial development investment pool; investment of workers' compensation funds and other funds in such pool; schedule of moneys invested; authority of state board of investments to invest funds from the pool in short-term investments; reversion of control of state board of investments
- Section 31-18B-3 - Housing development fund to make available state mortgage and industrial development investment pool funds for mortgages on single-family residential units; limitations upon type and size of such mortgages
- Section 31-18B-4 - West Virginia economic development authority to make available state mortgage and industrial development investment pool funds for investment in industrial development; amount of funds available; interest rate specified
- Section 31-18B-5 - Reversion to state board of investments of money not used for mortgages
- Section 31-18B-6 - Interest rate charged by housing development fund; other charges; points
- Section 31-18B-7 - Term of mortgage loans; renegotiation after ten years; promulgation of legislative rules
- Section 31-18B-8 - Persons eligible for loans from the state mortgage and industrial development investment pool; housing development fund to have sole discretion in determining who is to receive loans; discrimination prohibited
- Section 31-18B-9 - Housing development fund may contract with private institutions to place and service loans or may itself provide such servicing; increasing interest rate and payment of a portion of interest to cover cost of servicing
- Section 31-18B-10 - Disposition of interest income and repayments of principal
- Section 31-18B-11 - Procedural rules required
- Section 31-18B-12 - Rules of construction and interpretation for prompt implementation of this article