Pennsylvania Code
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT
Part III - Business Financing
Subpart D - Minority Lending
Chapter 81 - MINORITY BUSINESS DEVELOPMENT AUTHORITY
Subchapter B - LOAN PROGRAM ADMINISTRATION
LOAN PAYMENT, REPAYMENT, PENALTIES AND ADMINISTRATION
Section 81.142 - Default
Universal Citation: 12 PA Code ยง 81.142
Current through Register Vol. 54, No. 44, November 2, 2024
The defaults and remedies thereof shall be set forth in the instruments which are a part of the loan transaction. Failure to remain an eligible applicant or failure to maintain the project as an eligible project shall constitute an automatic default and grounds for penalties the Authority may deem appropriate.
The provisions of this §81.142 amended under section 9 of the Pennsylvania Minority Business Development Authority Act (73 P.S. § 390.9).
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