Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 315 - FAMILY DEVELOPMENT ACCOUNTS PROGRAM
Section 457-315-5 - Applicant Eligibility and Assessment

Universal Citation: 94 ME Code Rules ยง 457-315-5

Current through 2024-13, March 27, 2024

In order to approve an application, the Chief Executive Officer must determine that the applicant:

A. Is a community development organization.

B. Is able to administer a family development account program prudently and effectively.

C. Is able to coordinate with other employment training, educational and social assistance programs.

D. Has an effective marketing plan.

E. Has enough expert assistance available to it to provide financial management education to all account holders.

F. Has the capacity to provide or raise funds from other sources to provide matching funds.

G. Evidences the ability to provide adequate security, which may be in the form of a bond.

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