10 CCR s 5905

Cal. Admin. Code tit. 10, s 5905

CALIFORNIA CODE OF REGULATIONS
TITLE 10. INVESTMENT
CHAPTER 7.95. TRADE AND COMMERCE AGENCY: REPAIR UNDERGROUND STORAGE TANK
LOAN PROGRAM
This database is current through 01/05/07, Register 2007, No. 1.
s 5905. Loan Application Process.

(a) Upon receipt by the Office of the completed Application, the Office
shall approve a request for a Loan when it finds all of the following
requirements are met:

(1) The Applicant has applied for all permits necessary to complete
the Project;

(2) The business is creditworthy;

(3) Any Environmental Audit supports, or does not materially
adversely affect, the decision to make the Loan;

(4) Collateral and the source of repayment are sufficient for the
proposed Loan; and

(5) Funds are available to meet the funding request.

(b) Where any of the conditions and requirements of this section have not
been met, the Office shall deny the Application and determine what
specific actions, if any, the Applicant must take to obtain further Office
evaluation and review of the Application.

(c) No later than sixty (60) days from the date upon which the Office
notified the Applicant that the Application is complete, the Office shall
notify the Applicant of the Office's Loan decision, along with any
explanation required by subsection (b) above.

(d) If the Office approves the Loan, then the Office shall be authorized
to enter into a Loan Agreement which embodies the terms specified in
section 5902 and any other items agreed to by the Applicant and Office.

(e) If the Office denies the Application, the Applicant shall have no
right to administratively appeal the decision, but may reapply at any
time.

Note: Authority cited: Section 15399.16, Government Code.
Reference: Sections 15399.12, 15399.13, 15399.14 and 15399.15,
Government Code.

HISTORY

1. New section filed 2-8-90 as an emergency; operative 2-8-90 (Register
90,
No. 7). A Certificate of Compliance must be transmitted to OAL within 180
days or emergency language will be repealed by operation of law on 8-7-90.

2. Repealed by operation of Government Code section 11346.1(g) (Register
91, No. 13).

3. New section filed 2-25-91 as an emergency; operative 2-25-91 (Register
91,
No. 13). A Certificate of Compliance must be transmitted to OAL by 8-26-91
or emergency language will be repealed by operation of law on the
following
day.

4. Certificate of Compliance as to 2-25-91 order transmitted to OAL
5-24-91 and
filed 6-24-91 (Register 91, No. 40).

5. Amendment of section heading and subsection (a) filed 9-5-2000 as an
emergency; operative 9-5-2000 (Register 2000, No. 36). Pursuant to
Government Code section 15399.16, a Certificate of Compliance must be
transmitted to OAL by 3-5-2001 or emergency language will be repealed by
operation of law on the following day.

6. Editorial correction of History 5 (Register 2001, No. 10).

7. Amendment of section heading and subsection (a) refiled 3-6-2001 as an
emergency; operative 3-6-2001 (Register 2001, No. 10). Pursuant to
Government Code section 15399.16, a Certificate of Compliance must be
transmitted to OAL by 9-4-2001 or emergency language will be repealed by
operation of law on the following day.

8. Certificate of Compliance as to 3-6-2001 order transmitted to OAL
8-3-2001
and filed 9-17-2001 (Register 2001, No. 38).

10 CCR s 5905, 10 CA ADC s 5905
1CAC

10 CA ADC s 5905

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