Cal. Code Regs. tit. 14 § 18400

Current through Register 2024 Notice Reg. No. 50, December 13, 2024

Section 18400 - Definitions

For the purposes of this article, the definitions found in Public Resources Code sections 46021- 46028 shall apply unless otherwise indicated. The following supplementary definitions shall also govern the construction of this chapter:

(a) "Approved lending institutions" means banking organizations, including national banking associations and state chartered commercial banks and trust companies; savings and loan associations; and state and federal agencies authorized to make loans, such as the California Pollution Control Financing Authority.

(b) "Borrower" means an owner or operator of a solid waste landfill who applies for a loan, and meets the eligibility requirements set forth in section 18401 of these regulations.

(c) "Default" means the failure of a borrower or debtor to pay, when due, the principal and/or the interest owed:

(1) on an installment if the note is written for installment payments; or

(2) on maturity of the note if the note is written for a lump sum payment; or

(3) on demand of the lender if the lender has exercised the note's acceleration clause.

In the absence of the conditions stated above, failure of the debtor to comply with terms or conditions attached to a note shall not in itself constitute a default that would allow the lender to file a claim against the guarantee.

(d) "Qualifying" corrective actions are those actions which are required by a state or local enforcement agency to protect the public health or the environment, including but not limited to, events related to water contamination, air pollution, and methane gas migration at solid waste disposal facilities, and which are neither provided for in the closure or postclosure maintenance plans for a facility which are required by section 18255 of this Title; nor are required to be set forth in a facility's closure and postclosure maintenance plans by sections 18261 through 18265.3 of this title.

Cal. Code Regs. Tit. 14, § 18400

1. New section filed 4-2-90; operative 5-2-90 (Register 90, No. 14).
2. Change without regulatory effect amending section filed 5-17-91 pursuant to section 100, title 1, California Code of Regulations (Register 91, No. 27).

Note: Authority cited: Sections 46201 and 40502, Public Resources Code. Reference: Sections 46021- 46028, 46300- 46301, 46303 and 46350- 46353, Public Resources Code.