Ill. Admin. Code tit. 35 § 886.305

Current through Register Vol. 48, No. 49, December 6, 2024

Section 886.305 - Loan Termination by the Agency

a) The Agency, by written notice, may terminate the loan, in whole or in part, for cause. Cause for termination shall include, but shall not be limited to, failure by the loan recipient to comply with the terms and conditions of the loan agreement or this Part.

b) No action shall be taken under this Section without a prior reasonable and good faith attempt to consult, either orally or in writing, with the loan recipient.

Ill. Admin. Code tit. 35, § 886.305