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22-3-1904. Loan approval process.
Arkansas Code — all titles (historical 2020) · legal_authorities
22-3-1904. Loan approval process.
(a) An applicant for a loan from the Sustainable Building Design Revolving Loan Fund shall:
(1) Apply on a form approved by the Building Authority Division; and
(2)(A) Remit an origination fee of one-half of one percent (0.5%) of the requested amount of the loan.
(B) However, the amount of the origination fee shall not exceed two thousand five hundred dollars ($2,500).
(b) The division shall review the application to determine if the applicant satisfies the eligibility criteria for a loan from the fund.
(c) The division shall provide the applicant written notice of its determination whether to offer a loan from the fund and any conditions for making the loan.
(d) After the applicant has satisfied any preconditions, if any, for the division's approval of the loan and has executed a contract for the loan, the division shall forward the loan contract to the Department of Finance and Administration and the Governor for their approval.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 22-3-1904
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:22-3-1904
Source file: gov.ar.code.title.22.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4cbfef6354350ec9c46ab5c8c6356484ad8a967e359419e7d1f5e15f082601c0
Source location: content.xml paragraph 3048
Stored source content
22-3-1904. Loan approval process.
(a) An applicant for a loan from the Sustainable Building Design Revolving Loan Fund shall:
(1) Apply on a form approved by the Building Authority Division; and
(2)(A) Remit an origination fee of one-half of one percent (0.5%) of the requested amount of the loan.
(B) However, the amount of the origination fee shall not exceed two thousand five hundred dollars ($2,500).
(b) The division shall review the application to determine if the applicant satisfies the eligibility criteria for a loan from the fund.
(c) The division shall provide the applicant written notice of its determination whether to offer a loan from the fund and any conditions for making the loan.
(d) After the applicant has satisfied any preconditions, if any, for the division's approval of the loan and has executed a contract for the loan, the division shall forward the loan contract to the Department of Finance and Administration and the Governor for their approval.
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