Or. Admin. Code § 603-007-0190

Current through Register Vol. 63, No. 10, October 1, 2024

Section 603-007-0190 - Administration and Lending Institutions

(1) The Department may contract with Lending Institutions to perform ODAP administrative services.

(2) To be an eligible contracting Lending Institution, a Lending Institution must meet the following criteria:

(a) Enter into a Contract with the Department of Administrative Services on behalf of the Department to administer Program Applications.

(b) Upon the Department providing notification of one or more approved Applications, a Lending Institution must enter into a Grant Agreement Contract with the Department to receive Program funds and subaward the funds as forgivable loans to successful Applicants.

(3) When awarding forgivable loans to successful Applicants, Lending Institutions shall include the Applicant's respective completed Application as an attachment to the forgivable loan agreement.

(4) Except as provided in the Contract and Grant Agreements, Lending institutions must keep all financial and business information contained in the Applications, including accompanying documentation submitted to the Lending Institution confidential.

(5) Lending Institutions shall monitor and administer the subawards as required by the Grant Agreement Contract. No later than June 30, 2023, Lending Institutions shall transfer all unspent and unobligated amounts of money received, including repaid loan amounts, to the Department for deposit in the Oregon Agricultural Disaster Relief Fund.

(6) Lending Institutions must follow all applicable state and federal banking laws.

Or. Admin. Code § 603-007-0190

DOA 6-2022, temporary adopt filed 04/26/2022, effective 4/27/2022 through 10/23/2022

Statutory/Other Authority: OL 2021, Ch. 2, SB 892 (2021) & OL 2021, Ch. 4, SB 5561 (2021)

Statutes/Other Implemented: OL 2021, Ch. 2, SB 892 (2021) & OL 2021, Ch. 4, SB 5561 (2021)