Section 63N-3-107 - AgreementsThe administrator shall enter into agreements with each successful applicant that have specific terms and conditions for each loan, grant, or financial assistance under this part, including:
(1) for a loan: (c) specific economic activity required to qualify for the loan or for repayment credits;(d) collateral or security, if any; and(e) other terms and conditions considered appropriate by the administrator; and(2) for a grant or other financial assistance:(a) requirements for compliance monitoring;(b) repayment for nonperformance or departure from the state;(c) collateral or security, if any; and(d) other terms and conditions considered appropriate by the administrator.Amended by Chapter 159, 2024 General Session ,§ 24, eff. 5/1/2024.Amended by Chapter 499, 2023 General Session ,§ 10, eff. 5/3/2023.Renumbered from § 63M-1-907 by Chapter 283, 2015 General Session ,§ 153, eff. 5/12/2015.Renumbered and Amended by Chapter 382, 2008 General Session