[§514D-6]  Loans; eligibility.  The authority may make loans directly to a condominium association that has:

     (1)  Received at least one letter from a financial institution declining its eligibility for a loan to address maintenance or insurance coverage issues; and

     (2)  Obtained full replacement property and hurricane insurance coverage or intends to do so as a condition of any financing received. [L 2025, c 296, pt of §19]