La. Admin. Code tit. 19, § VII-7219 - Procedure for Making Claim for Reimbursement of Loss
A. At the time a lender charges off all or
part of an enrolled loan as a result of a default by the borrower, the lender
may make a claim for reimbursement for all or part of the loss incurred by
notifying LEDC of the claim in writing on a form provided by LEDC within three
calendar months of the date a loss has occurred with respect to the enrolled
loan.
B. A lender may make a claim
for reimbursement of a loss prior to the liquidation of collateral, or to
realization on personal or their financial guarantees or from other sources,
subject however to the provision in
§7223 on recoveries on loans subsequent
to payment of claims.
C. The lender
shall retain documentation in its files substantiating all claims.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.