§ 15437
124 words·~1 min read·
/ca/government-code/15437A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The provisions of this part shall be administered by the authority, which shall have and is hereby vested with all powers reasonably necessary to carry out the powers and responsibilities expressly granted or imposed under this part.
(b)The authority shall establish financial eligibility standards by studying the creditworthiness and earning capacity of each project, together with the amount of pledged revenues, debt service coverage, and basic security.
(c)The authority shall establish financial eligibility standards for working capital loans by studying the creditworthiness of a participating health institution, together with the amount of pledged revenues, debt service coverage, and basic security. A participating health institution that is determined by the authority to be in financial distress shall not be deemed financially eligible.