Section 001-34-IV - AdministrationA. Commissioner of the Department of Agriculture, Conservation and Forestry. The Commissioner shall: 1. provide overall supervision and policy oversight to the program;2. make final decisions on participation by the DIF in loans;3. assign employees of the Department of Agriculture, Conservation and Forestry and/or contract for services to advise and assist potential applicants in applying for funds and to work with other lenders in packaging loan proposals;4. assign employees of the Department of Agriculture, Conservation and Forestry and/or contract for services to perform application review/loan analysis and recommend loan approval or rejection;5. enter into agreements with the Finance Authority of Maine or other qualified individuals or organizations for services to include, but not limited to, financial record keeping, to facilitate collection of funds owed to the DIF, and to develop appropriate loan forms, to process loan applications, to underwrite loans, to close and service loans.B.Credit Committee1.PurposeA Credit Committee shall be established for the special task of providing financial analysis of proposals seeking over $50,000 for funding through the Loan Program. The Credit Committee shall review all financial aspects of such proposal, as well as other information about each such project, and evaluate each project from a credit perspective. The Credit Committee will report its findings and recommendations on individual proposals directly to the Commissioner.
2.MembershipThe Credit Committee shall consist of seven (7) members each of whom has commercial or agricultural lending experience, appointed by the Commissioner. The Credit Committee shall have membership, which is diverse, both geographically and agriculturally.
01-001 C.M.R. ch. 34, § IV