Idaho § 67-6216 - Authority to make loans
Full text of Idaho Idaho Statutes § 67-6216 — Authority to make loans, with citation guidance and answers to common questions.
§ 67-6216. Authority to make loans
The association is authorized to make loans to housing sponsors for the necessary expenses, prior to construction, in planning, and obtaining financing for, the rehabilitation or construction of housing projects. Such loans shall be made without interest and shall not exceed eighty percent (80%) of the reasonable costs expected to be incurred in planning, and in obtaining financing for, such housing prior to the availability of financing, including, but not limited to preliminary surveys and analyses of market needs, preliminary site engineering and architectural fees, site acquisition, application and mortgage commitment fees, and construction loan fees and discounts. The association shall require repayment of loans made under this section, under such terms and conditions as it may require, upon completion of the project or sooner, and may cancel any part or all of a loan if it determines that it cannot be recovered from the proceeds of any permanent loan made to finance the rehabilitation or construction of the housing project.
[67-6216, added 1972, ch. 324, sec. 16, p. 789; am. 1974, ch. 104, sec. 26, p. 1210; am. 1996, ch. 253, sec. 21, p. 825.]
Frequently Asked Questions About Idaho § 67-6216
What does Idaho Statutes § 67-6216 cover?
Section 67-6216 ("Authority to make loans") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 67-6216?
A common citation format is "Idaho Statutes § 67-6216" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 67-6216 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.