Federal · Title 46 — Shipping

46 U.S.C. § 53713: Administrative fees

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investigating an application for a guarantee; appraising property offered as security for a guarantee; issuing a commitment; providing services related to an escrow fund under section 53715 of this title or a deposit fund under section 53716 of this title ; inspecting property during construction, reconstruction, or reconditioning; and monitoring and providing services related to the obligor’s compliance with any terms related to the obligations, the guarantee, or maintenance of the Secretary or Administrator’s security interests under this chapter. The total fees under subsection (a) may not exceed 0.5 percent of the original principal amount of the obligations to be guaranteed. be credited as an offsetting collection to the account that finances the administration of the loan guarantee program; be available for expenditure only to pay the costs of activities and services for which the fee is imposed; and remain available until expended. Fees collected under this subsection are not subject to the limitation of subsection (b).

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