Wisconsin Administrative Code
Department of Natural Resources
NR 700-799 - Environmental Protection - Investigation and Remediation of Environmental Contamination
Chapter NR 747 - PETROLEUM ENVIRONMENTAL CLEANUP FUND
Subchapter II - Program Eligibility
Section NR 747.15 - Assignment of awards

Universal Citation: WI Admin Code ยง NR 747.15
Current through August 26, 2024

By written notification to the department, a claimant may make an assignment of an award to an institution which lends money to the claimant for the purpose of conducting remediation activities reimbursed under this chapter, as specified in s. 292.63(4m), Stats. This assignment of an award creates and perfects a lien in favor of the assignee in the proceeds of the award.

Section 292.63(4m), Stats., states the lien secures all principal, interest, fees, costs and expenses of the assignee related to the loan. The lien under this subsection has priority over any previously existing or subsequently created lien, assignment, security interest or other interest in the proceeds of the award.

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