Duties of office
Sec. 6. (a) The office shall do the following:
(1) Review and approve or disapprove applications for loans
from the revolving fund.
(2) Establish the terms of loans from the revolving fund.
(3) Manage the loans.
(b) The office shall review applications for loans from the
revolving fund on December 1 and June 1.
(c) A properly completed application for a loan from the revolving
fund must be received by the office not later than:
(1) November 16 for the application to be eligible for review on
a December 1 review date; or
(2) May 17 for the application to be eligible for review on a
June 1 review date.
(d) If the office receives a loan application after a deadline for
receiving loan applications set forth in subsection (c), the office
shall:
(1) retain the loan application; and
(2) review the application on the next review date.
As added by P.L.70-1995, SEC.5. Amended by P.L.90-1997, SEC.5.
Last modified: May 27, 2006