Oregon Administrative Rules
Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT
Division 19 - OPERATION OF OREGON ENTREPRENEURIAL DEVELOPMENT LOAN FUND
Section 123-019-0090 - Payment of Monies for Project

Universal Citation: OR Admin Rules 123-019-0090

Current through Register Vol. 63, No. 9, September 1, 2024

(1) The Finance Manager shall be the sole judge of the suitability and eligibility of a Project for financing from the Fund, and approval of such financing shall be in the sole discretion of the Finance Manager.

(2) If the Finance Manager approves a loan for a Project, the Department shall pay monies for the Project from the Fund, in accordance with the terms of the loan contract as prescribed by the Finance Manager.

(3) If the Finance Manager determines that a loan should be made, the Finance Manager shall also determine the amount of the loan and authorize the disbursement of the funds. The Finance Manager may authorize the Department to disburse the funds and execute such documents as may be necessary to conclude the transaction.

Statutory/Other Authority: ORS.285A.075

Statutes/Other Implemented: ORS 285A.075, .285B.740 - 285B.758, Ch. 765 & OL 1993

Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.