Minnesota Administrative Rules
Agency 107 - Agricultural and Economic Development Board
Chapter 1587 - FINANCIAL ASSISTANCE
GENERAL
Part 1587.0600 - MISREPRESENTATION OF APPLICATION INFORMATION
Universal Citation: MN Rules 1587.0600
Current through Register Vol. 48, No. 26, December 26, 2023
Subpart 1. Affirmative duty.
An applicant or financial institution has an affirmative duty and obligation to update and correct all information provided to the board.
Subp. 2. Board's action.
If information provided to the board by either the applicant or the financial institution contains a material misrepresentation or omission, the board may:
A. reject an
application whether or not previously approved;
B. refuse to provide financial
assistance;
C. make financial
assistance provided by it immediately due and payable; or
D. revoke any preliminary or final resolution
prior to the provision of financial assistance or prior to the sale of the
bonds approved by it.
9 SR 111; L 1987 c 386 art 5 s 5
Statutory Authority: MS s 41A.04
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