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46 U.S.C. § 53713 - U.S. Code - Unannotated Title 46. Shipping § 53713. Administrative fees

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(a) In general.--The Secretary or Administrator shall charge and collect from the obligor fees the Secretary or Administrator considers reasonable for--

(1) investigating an application for a guarantee;

(2) appraising property offered as security for a guarantee;

(3) issuing a commitment;

(4) providing services related to an escrow fund under section 53715 of this title;  and

(5) inspecting property during construction, reconstruction, or reconditioning.

(b) Total fee limitation.--The total fees under subsection (a) may not exceed 0.5 percent of the original principal amount of the obligations to be guaranteed.

(c) Fees for independent analysis.--The Secretary or Administrator may charge and collect fees to cover the costs of independent analysis under section 53708(d) of this title.  Notwithstanding section 3302 of title 31, any fee collected under this subsection shall--

(1) be credited as an offsetting collection to the account that finances the administration of the loan guarantee program;

(2) be available for expenditure only to pay the costs of activities and services for which the fee is imposed;  and

(3) remain available until expended.

Cite this article: - 46 U.S.C. § 53713 - U.S. Code - Unannotated Title 46. Shipping § 53713. Administrative fees - last updated January 01, 2018 |

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