Conn. Agencies Regs. § 32-36-3 - Evaluation of financial aid application
(a) The President shall forward each application for financial aid to the staff of the Corporation for an investigation and report concerning the advisability of approving the application for financial aid and concerning any other factors deemed relevant by the Corporation.
(b) The investigation and report on the application for financial aid shall include, but shall not be limited to, such facts as the person's history, wage standards, job opportunities, stability of employment, past and present financial condition and structure, pro-forma income statements, present and future markets and prospects, integrity of management and the reasonableness of the basis, if any, on which funds are available for the project from commercial sources, as well as the state of development of the proposed product and the likelihood of its commercial feasibility.
(c) After receipt and consideration of the staff report, the Board shall approve the application for financial aid, reject it or return it to the staff for further information and analysis.
(d) The person shall be promptly notified of the action taken by the Corporation regarding his application for financial aid.
(e) Approval or denial of an application for financial aid shall be at the sole discretion of the Corporation .
(f) Approval of an application for financial aid by the Corporation shall be conditioned on the execution of a financial aid agreement between the person and the Corporation .
(g) Because matters of commercial importance to the person will be involved, the Corporation will make every effort to maintain the confidentiality of the material contained in the application for financial aid and in any additional material furnished by the person to the Corporation .
(h) The Corporation shall be free to approve any application for financial aid without regard to the existence of any other application for financial aid, and shall not be liable to any other person submitting an application for financial aid in doing so.
(i) Neither the Corporation nor the person submitting an application for financial aid shall make or authorize the making of any public statement concerning the application for financial aid without the consent of the other party.
Notes
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