RSA 162-A:11 Guarantee Fund Established.

In order to provide additional security to the state for any loan guarantees made under RSA 162-A:8, RSA 162-A:10, or RSA 162-A:13, there is hereby established a loan guarantee reserve fund, which shall be held by the authority apart from all of its other funds, and which shall be deemed irrevocably pledged to secure all loans guaranteed under RSA 162-A:8, RSA 162-A:10, III, or RSA 162-A:13. Whenever a loan guarantee is awarded under RSA 162-A:8, RSA 162-A:10, III, or RSA 162-A:13 the authority, the borrower, the lending financial institution, the local development organization, the purchaser of the loans, or any appropriate combination of them shall deposit in such fund an amount equal to not less than 10 percent of the guaranteed portion of the principal of the loan or loans. If a state