Md. Code Regs. 14.26.01.12

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

Section 14.26.01.12 - Program Administration

A. The Director may delegate to any other official or employee of the Administration or the Program the authority to approve loans and credit enhancements under the Program, or to execute or approve any loan documents or other documents governing a loan or credit enhancement, including a commitment.

B. The Administration may enter into contracts with third parties to make, service, or settle loans under the Program.

C. The Administration shall reserve 20 percent of the annual amount of funds available under the Program for loans to nonprofit organizations. If sufficient applications for the reserved funds have not been received from nonprofit organizations, those funds may be made available to other loans or credit enhancements under the Program.

Md. Code Regs. 14.26.01.12

Regulation .12 amended as an emergency provision effective 41:15 Md. R. 888, eff.7/1/2014
Regulations .12 amended effective 41:19 Md. R. 1082, eff.9/29/2014