Section 8257 - Availability of Loan Guaranties and Direct Loans(a) Loan guaranties shall be funded with funds from the Loan Guaranty Fund. Direct loans and microenterprise assistance shall be funded with funds from the Direct Loan Fund. The aggregate amount of all outstanding loan guaranties shall not exceed four (4) times the balance of the Loan Guaranty Fund, and the aggregate amount of all outstanding direct loans and microenterprise assistance shall not exceed the amount in the Direct Loan Fund.(b) Each application for a guaranty or a direct loan shall be date stamped upon receipt by the department or its contractor. Loan guaranties and direct loans shall be made available to eligible applicants with complete applications by the department or its contractor using an "over-the-counter" process whereby applications will be accepted, processed and evaluated on an on-going basis in the order they are received so long as funds remain available.Cal. Code Regs. Tit. 25, § 8257
1. New section filed 4-16-99 as an emergency; operative 4-16-99 (Register 99, No. 16). A Certificate of Compliance must be transmitted to OAL by 10-13-99 pursuant to Education Code section 8277.6 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 10-1-99 as an emergency; operative 10-13-99 (Register 99, No. 40). A Certificate of Compliance must be transmitted to OAL by 2-10-2000 or emergency language will be repealed by operation of law on the following day.
3. Repealed by operation of Government Code section 11346.1(g) (Register 2000, No. 9).
4. New section filed 2-2-2001; operative 2-2-2001 pursuant to Government Code section 11343.4(c) (Register 2001, No. 5). Note: Authority cited: Section 8277.6(g), Education Code. Reference: Sections 8277.5(d) and (e), 8277.6(b) and (g), Education Code.
1. New section filed 4-16-99 as an emergency; operative 4-16-99 (Register 99, No. 16). A Certificate of Compliance must be transmitted to OAL by 10-13-99 pursuant to Education Code section 8277.6 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 10-1-99 as an emergency; operative 10-13-99 (Register 99, No. 40). A Certificate of Compliance must be transmitted to OAL by 2-10-2000 or emergency language will be repealed by operation of law on the following day.
3. Repealed by operation of Government Code section 11346.1(g) (Register 2000, No. 9).
4. New section filed 2-2-2001; operative 2-2-2001 pursuant to Government Code section 11343.4(c) (Register 2001, No. 5).