28- 248 C.M.R. ch. 101, § IX
Current through 2024-51, December 18, 2024
The State Treasurer is not a lender with respect to any loan made under 5 M.R.S.A. Section135 and this rule and the investment of State funds in a financial institution under this rule does not represent any kind of guarantee of or security for repayment of a loan in the event of default. For any loan made under 5 M.R.S.A. Section135 and this rule, the financial institution is responsible for the review of the loan application and for the determination of the creditworthiness of the borrower, in accordance with its own lending standards. The lender may not set off amounts invested by the Treasurer of State against obligations of the borrower or any other obligations.
28- 248 C.M.R. ch. 101, § IX