WILLIAM DONALD SCHAEFER, Governor

(3) ASSIST (II) IN THE UNDERWRITING OF PROPOSED
COMMUNITY REINVESTMENT PROJECTS; AND

(3) (2) THE DEPARTMENT AND THE DEPARTMENT OF
ECONOMIC AND EMPLOYMENT DEVELOPMENT MAY CHARGE SUCH FEES
AS ARE REASONABLE AND CUSTOMARY FOR THE PROVISION TO THE
FUND OF ASSISTANCE UNDER THIS SUBSECTION.

10-104.

(A) (1) THE PURPOSE OF THE FUND IS TO ADMINISTER THE USE
AND REINVESTMENT OF MONEYS THAT MAY BE CREDITED, PAID, OR
OTHERWISE TRANSFERRED TO THE FUND FROM ANY PERSON OR
ENTITY APPROVED FOR PARTICIPATION IN THE FUND BY THE BOARD,
INCLUDING BANKS, SAVINGS INSTITUTIONS, AND OTHER FINANCIAL
INSTITUTIONS.

(2) THE MONEYS ADMINISTERED BY THE FUND SHALL BE
USED TO PROVIDE COMMUNITY REINVESTMENT ASSISTANCE IN
ACCORDANCE WITH THIS TITLE, THE ORGANIZATIONAL DOCUMENTS OF
THE FUND, AND ANY OTHER APPLICABLE LAW.

(3) ANY DIVIDENDS, ROYALTIES, OR OTHER EARNINGS
RECEIVED AS A RESULT OF THE PROVISION OF COMMUNITY
REINVESTMENT ASSISTANCE OR ANY OTHER REINVESTMENT MADE BY
THE BOARD UNDER THIS TITLE SHALL BE MONEYS OF THE FUND, AND
MAY NOT BE MONEYS OF THE STATE FOR ANY FUNCTION OR PURPOSE.

(B) (1) THE BOARD SHALL DETERMINE, PURSUANT TO THE
ORGANIZATIONAL DOCUMENTS OF THE FUND, THE FORM OF THE
INDEPENDENT LEGAL ENTITY CONSTITUTING THE FUND.

(2) IN ACCORDANCE WITH THE ORGANIZATIONAL
DOCUMENTS OF THE FUND, ENTITIES CONTRIBUTING MONEYS TO THE
FUND MAY BE ENTITLED TO RECEIVE:

(I) A SHARE OR PORTION OF THE INTERESTS OF IN THE
FUND IN PROPORTION TO THE CONTRIBUTION BY SUCH ENTITIES, IN
AMOUNTS AND IN A FORM AS DETERMINED BY THE BOARD; AND

(II) A RETURN ON CONTRIBUTIONS TO THE FUND BASED
UPON:

1. THEIR SHARE OF THE FUND; AND

2. A FIXED RATE OF RETURN, OR THE AMOUNT OF
ANY DIVIDENDS, ROYALTIES, OR OTHER EARNINGS OF THE FUND, OR
UPON SUCH OTHER FORMULA AND IN A FORM AS DETERMINED BY THE
BOARD.

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