Minnesota Administrative Rules

4900.0601 DEFINITIONS.

Subpart 1.

Scope.

For the purposes of parts 4900.0601 to 4900.0605, the following terms have the meanings given them.

Subp. 2.

Agency.

"Agency" means the Minnesota Housing Finance Agency.

Subp. 3.

Borrower.

"Borrower" means one or more persons or legal entities.

Subp. 4.

Energy improvement loan insurance program.

"Energy improvement loan insurance program" means a program established by Minnesota Statutes, section 462A.05, subdivision 23, to insure loans that are made by lenders to eligible borrowers to pay the costs of eligible improvements made to eligible structures.

Subp. 5.

Insure.

"Insure" means that the agency will pay to the lender a portion of defaulted loans that are insured by the energy improvement loan insurance program, up to a maximum total amount for each lender.

Subp. 6.

Lender.

"Lender" means a banking institution, savings association, or other lender approved by the agency, organized under the laws of this or any other state or of the United States having an office in Minnesota.

Subp. 7.

Rental dwelling unit.

"Rental dwelling unit" means a housing unit containing cooking, sleeping, and bathroom facilities that is occupied by a household other than the owner of the dwelling for which rent is received either in cash or in kind.

Statutory Authority:

MS s 462A.06

History:

9 SR 694; L 1995 c 202 art 1 s 25

Published Electronically:

October 2, 2013