§ 2429-b. Mortgage insurance fund. * 1. (a) The agency shall create\nand establish a mortgage insurance fund. Within such fund, the agency\nshall establish: (i) a special account, which shall be divided into\nsub-accounts for each region as defined in subdivision nine of section\ntwenty-four hundred twenty-six of this title; (ii) a single family pool\ninsurance account; (iii) a project pool insurance account; and (iv) a\ndevelopment corporation credit support account. The single family pool\ninsurance account shall be used for all business relating to the\ninsurance of mortgages on properties with one to four dwelling units,\nthe project pool insurance account shall be used for all business\nrelating to the insurance of mortgages on properties other than those\nwith one to four dwelling units, and the development corporation credit\nsupport account shall be used for all business relating to development\ncorporation credit support. Separate sub-accounts may be established\nwithin the special account, the pool insurance accounts, and the\ndevelopment corporation credit support account as deemed appropriate by\nthe agency.\n (b) (i) The mortgage insurance fund shall be used as a revolving fund\nfor carrying out the provisions of this title with respect to mortgages\ninsured and development corporation credit support, provided thereunder.\n(ii) The agency shall pay into such fund all moneys which may be made\navailable to the agency for the purposes of such fund from any source,\nincluding but not limited to the moneys received from recording officers\npursuant to the provisions of subdivision two of section two hundred\nsixty-one of the tax law. The agency shall credit the amount of moneys\nreceived from the recording officer of each county, pursuant to\nsubdivision two of section two hundred sixty-one of the tax law, to the\nspecial account. In any fiscal year, no more than fifty per centum of\nthe amount received from the recording officers during the consecutive\ntwelve month period ending on the preceding March thirty-first may be\nused by the agency for the purpose of insuring mortgages on property\nlocated in any one region pursuant to section two thousand four hundred\ntwenty-eight of this part, provided, however, that this provision shall\nnot include or be applied to pool insurance of mortgage loans purchased\nby the agency. The agency shall credit any other moneys which may be\nmade available to the agency for the purposes of such fund from any\nother source to the special account, the single family pool insurance\naccount, the project pool insurance account, or the development\ncorporation credit support account, as appropriate. Any income or\ninterest earned by, or increment to, the mortgage insurance fund due to\nthe investment thereof shall be credited to the special account, the\napplicable pool insurance account, or the development corporation credit\nsupport account, as appropriate.\n (c) The agency may credit from the special account to the single\nfamily pool insurance account, to the project pool insurance account and\nto the development corporation credit support account such moneys as are\nrequired to satisfy the mortgage insurance fund requirement of such\naccounts, except that during any twelve-month period ending on March\nthirty-first the aggregate amount credited to the development\ncorporation credit support account (excluding amounts described in the\nlast sentence of paragraph (b) of this subdivision) shall not exceed the\nlesser of (i) fifty million dollars or (ii) the aggregate of the amounts\nrequired under the contracts executed by the agency to provide\ndevelopment corporation support.\n (d) Moneys, investments and cash equivalents of the special account,\nthe single family pool insurance account, the project pool insurance\naccount and the development corporation credit support account shall be\nkept separate and shall not be commingled with each other or with any\nother accounts which may b
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