Oklahoma Administrative Code
Title 200 - Oklahoma Development Finance Authority
Chapter 10 - Administration of Credit Enhancement Reserve Fund
Subchapter 11 - General Approval Standards and Criteria
Section 200:10-11-4 - Issuance of Insurance Commitment; rejection of application

Universal Citation: OK Admin Code 200:10-11-4

Current through Vol. 42, No. 1, September 16, 2024

(a) After approval by the Board of an application for Insurance, a Commitment will be issued setting forth the terms and conditions upon which ODFA financing assistance will be insured, including special requirements applicable to the project and requiring the submission in final form within a time specified of all appropriate documents, drawings, plans, specifications, appraisals, bonds, guarantees, permits, approvals, surveys, title insurance, opinions, financial statements, cost and other certifications and other instruments evidencing full compliance with requirements in form and content satisfactory to the Administrator.

(b) If such use of Insurance has not been approved by the Bond Oversight Commissions, the Commitment will be conditioned on the granting of such approvals.

(c) A Commitment shall be effective for a stated period. A Commitment may be renewed in the manner stated in the Commitment.

(d) If, upon examination of the application and supporting information, the Board rejects such application, the applicant will be so informed.

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