California Code of Regulations
Title 14 - Natural Resources
Division 7 - Department of Resources Recycling and Recovery
Chapter 4 - Resource Conservation Programs
Article 1.2 - Leveraging the Recycling Market Development Zone Revolving Loan Fund
Section 17939.5 - Loan Sale

Universal Citation: 14 CA Code of Regs 17939.5

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) The Board may sell loans, either in bulk quantity or individually; in whole or in part; on a recourse or non-recourse basis; on an advance commitment, forward, or participation basis; and may retain or relinquish the servicing rights;

(b) the Board shall not sell its loans if the loan sale results in more than a twenty-five percent (25%) discount of the principal amount, excluding any expenses or reserves required as a condition of the loan sale; and

(c) all proceeds received from the sale of loans shall be deposited into the Recycling Market Development Revolving Loan Program Subaccount.

1. New section filed 10-18-2005; operative 11-17-2005 (Register 2005, No. 42).

Note: Authority cited: Section 40502, Public Resources Code. Reference: Section 40506.1, Public Resources Code.

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