8.99.506    DEVELOPMENT LOAN - RENEWAL REQUIREMENTS

(1) The department will notify the MBDC in writing of its intent to renew and/or require repayment of a development loan, at least 90 days prior to the expiration of the development loan agreement.

(2) The department may renew the terms of the development loan up to four years or may require the repayment of the loan in full or in part.

(3) The department will consider the criteria for certification of the MBDC and development loan approval, and the MBDC's record of compliance with the development loan agreement, in determining if a development loan is to be renewed and/or repaid in full or in part.

History: Sec. 17-6-406, MCA; IMP, Sec. 17-6-406, MCA; NEW, 1992 MAR p. 42, Eff. 1/17/92; AMD, 1998 MAR p. 466, Eff. 2/13/98; AMD, 1998 MAR p. 2166, Eff. 8/14/98; AMD, 2000 MAR p. 1045, Eff. 4/28/00.