La. Admin. Code tit. 7 § III-307
Current through Register Vol. 50, No. 11, November 20, 2024
Section III-307 - Approval of ApplicationA. The applicant must provide all required information at least 10 working days prior to the meeting of the agricultural loan committee where the application will be considered, unless partial submission is allowed by LAFA's staff or the agricultural loan committee.B. The agricultural loan committee may require terms and conditions that are not included in other loan/grants to be in a particular loan/grant based on the circumstances of each individual loan/grant so long as such terms and conditions are consistent with these regulations.C. The agricultural loan committee may authorize LAFA's director to negotiate additional terms and conditions for a specific loan/grant within the parameters established by these regulations and the instructions of the agricultural loan committee.D. The agricultural loan committee shall review each loan application and approve or deny the application, after consideration of the application, supporting documentation, comments of the applicant, and staff recommendations. However, the agricultural loan committee may defer action on an application to obtain additional information.E. Within three business days after an application has been acted upon by the agricultural loan committee notice of the decision shall be sent to the applicant. Notification may be by U.S. mail, private commercial courier, hand delivery by an employee of the department, fax, e-mail, or other electronic means. However, whatever the means of notification used must be designed to verify receipt of the notification by the applicant.La. Admin. Code tit. 7, § III-307
Promulgated by the Department of Agriculture and Forestry, Agricultural Finance Authority, LR 36:467 (March 2010).AUTHORITY NOTE: Promulgated in accordance with R. S. 3:266.