Section 8263 - Termination of Guaranty(a) A guaranty shall terminate upon full repayment of the guarantied loan.(b) Except for a guaranty of a loan made to a family child care provider who has submitted a cessation notice declaring the intent to resume child care and development services in accordance with section 8260(k)(11), a guaranty shall terminate one hundred twenty (120) days from the lender's receipt of notice that the borrower has either ceased making payments or providing child care and development services in the facility for which the guarantied loan was made, or both, unless the lender has served the borrower with a written notice of default prior to the end of the one hundred twenty (120) day period.(c) In the event a family child care provider has ceased to provide child care and development services but has retained its license and has notified the lender and department or its contractor of its intent to resume providing child care and development services in accordance with section 8260(k)(11), the guaranty shall terminate one hundred twenty (120) days from the resumption of services date declared in the cessation notice, or any amended resumption of services date declared in an amended cessation notice unless: (1) the lender receives a written statement from the provider made under penalty of perjury stating that the provider has a current license and has resumed providing child care and development services; or(2) the lender has served the borrower with a written notice of default prior to the end of the hundred twenty (120) day period after the resumption of services date, or any amended resumption of services date.(d) "Receipt of notice" for purposes of this section means: (1) the lender has actual or constructive notice through its own internal records;(2) the lender has received notice from the borrower, or(3) the lender has received written notice from the department or its contractor.(e) The lender shall use all reasonable means to insure that the borrower actually receives the notice of default, including but not limited to use of certified mail return receipt requested, or personal delivery.Cal. Code Regs. Tit. 25, § 8263
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must be transmitted to OAL by 10-13-99 pursuant to Education Code section 8277.6 or emergency language will be repealed by operation of law on the following day.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), 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).