Page:United States Statutes at Large Volume 108 Part 3.djvu/461

 PUBLIC LAW 103-325—SEPT. 23, 1994 108 STAT. 2213 (b) SIZE OF ASSISTED BORROWER.— The Fund shall not provide any reimbursement to a participating State with respect to an enrolled loan made to a borrower that has 500 or more employees at the time that the loan is enrolled in the Program. (c) THREE-YEAR MAXIMUM.— The amount of reimbursement to be provided by the Fund to a participating State over any 3- year period in connection with loans made to any single borrower or any group of borrowers among which a common enterprise exists shall not exceed $75,000. For purposes of this subsection, "common enterprise" shall have the same meaning as in part 32 of title 12 of the Code of Federal Regulations, or any successor to that part. (d) LOANS TOTALING LESS THAN $2,000,000. —In connection with a loan in which the covered amount of the loan plus the covered amount of all previous loans enrolled by a participating financial institution does not exceed $2,000,000, the amount of reimbursement by the Fund to the participating State shall not exceed the lesser of— (1) 75 percent of the sum of the premium charges paid to the reserve fund by the borrower and the participating financial institution; or (2) 5.25 percent of the covered amount of the loan. (e) LOANS TOTALING MORE THAN $2,000,000. —In connection with a loan in which the sum of the covered amounts of all previous loans enrolled by the participating financial institution in the Program equals or exceeds $2,000,000, the amount of reimbursement to be provided by the Fund to the participating State shall not exceed the lesser of— (1) 50 percent of the sum of the premium charges paid by the borrower and the participating financial institution; or (2) 3.5 percent of the covered amount of the loan. (f) OTHER AMOUNTS.—In connection with the enrollment of a loan that will cause the aggregate covered amount of all enrolled loans to exceed $2,000,000, the amount of reimbursement by the Fund to the participating State shall be determined— (1) by applying subsection (d) to the portion of the loan, which when added to the aggregate covered amount of all previously enrolled loans equals $2,000,000; and (2) by applying subsection (e) to the balance of the loan. SEC. 258. REIMBURSEMENT TO THE FUND. 12 USC 4748. (a) IN GENERAL.— If a participating State withdraws funds from a reserve fund pursuant to terms of the participation agreement permitted by subsection (d) or (r) of section 255, such participating State shall, not later than 15 calendar days after such withdrawal, submit to the Fund an amount computed by multiplying the amount withdrawn by the appropriate factor, as determined under subsection (b). (b) FACTOR.— The appropriate factor shall be obtained by dividing the total amount of contributions that have been made by the participating State to all reserve funds which were subject to reimbursement— (1) by 2; and (2) by the total amount of contributions made by the participating State to all reserve funds, including if applicable, contributions that have been made by the State prior to becoming

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