Md. Code Regs. 05.13.07.03

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.13.07.03 - Eligible Applicants

To qualify as an eligible recipient of financial assistance, an applicant shall:

A. If a nonprofit organization, corporation, or partnership, be in good standing and qualified to do business in Maryland;

B. Have the legal capacity and all necessary authorization to incur the obligations of the financial assistance;

C. Own the project or have a valid contract to purchase or lease the project;

D. Demonstrate credit worthiness and repayment ability acceptable to the Department; and

E. Demonstrate the ability to complete and operate the project.

Md. Code Regs. 05.13.07.03

Regulation .03 adopted effective 47:14 Md. R. 674, eff. 7/16/2020