63N-3-107. Agreements.
120 words·~1 min read·
/ut/title-63n/chapter-3/63n-3-107A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/1/2024
63N-3-107. Agreements.
The 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:
(a)repayment schedules;
(b)interest rates;
(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