Or. Admin. Code § 123-019-0060 - Appeals, Monitoring, Amendments and Modifications
(1) If
the Finance Manager denies a loan request and if requested in writing by the
Applicant within 30 days of the denial, the Department shall inform the
Applicant in writing of the reasons for such denial.
(2) A denied Applicant has the right to
appeal the denial in writing within 30 days of the Finance Manager's denial.
Within 30 days of the appeal, the Applicant may submit whatever books,
documents and data necessary to support the appeal. After reviewing the
additional documentation, the Department shall schedule an appeal review by the
Finance Manager, or the Loan Committee, as the Department may decide. If the
Department elects to have the appeal reviewed by the Loan Committee, the
Applicant may appear at the Loan Committee meeting to provide additional
context to the information provided to support the appeal.
(3) An Applicant whose appeal has been denied
must submit a new credit application to be eligible for consideration of a new
loan request. This requirement may be waived by the Finance Manager, in their
sole discretion.
(4) All loans
shall be monitored by, and all loan repayments shall be made to, the Department
or its assignee.
(5) It is the
responsibility of the Applicant to ensure that its payment arrives in the
Department by the due date.
(6) Any
request for modification or amendment to any loan condition shall be made in
writing to the Department and approved by the Finance Manager. The Finance
Manager may refer a request for modification or amendment to the Loan Committee
for recommendation.
(7) If the
Finance Manager consents to any requested modification or amendment, the
Applicant shall be responsible for all costs of modifying or amending any loan
documents, filings, recordings or financing statements.
Notes
Statutory/Other Authority: ORS 285A.075, OL 2020 2nd SS Ch 10 Sec 26-27 & ORS 285B.758
Statutes/Other Implemented: ORS 285A.075, Ch. 765, OL 1993, OL 2020 2nd SS Ch 10 Sec 26-27, ORS 285B.740, ORS 285B.743, ORS 285B.746, ORS 285B.749 & ORS 285B.758
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.
(1) If the Finance Manager denies a loan request and if requested in writing by the Applicant within 30 days of the denial, the Department shall inform the Applicant in writing of the reasons for such denial.
(2) A denied Applicant has the right to appeal the denial in writing within 30 days of the Finance Manager's denial. Within 30 days of the appeal, the Applicant may submit whatever books, documents and data necessary to support the appeal. After reviewing the additional documentation, the Department shall schedule an appeal review by the Finance Manager, or the Loan Committee, as the Department may decide. If the Department elects to have the appeal reviewed by the Loan Committee, the Applicant may appear at the Loan Committee meeting to provide additional context to the information provided to support the appeal.
(3) An Applicant whose appeal has been denied must submit a new credit application to be eligible for consideration of a new loan request. This requirement may be waived by the Finance Manager, in their sole discretion.
(4) All loans shall be monitored by, and all loan repayments shall be made to, the Department or its assignee.
(5) It is the responsibility of the borrower to ensure that its payment arrives in the Department by the due date.
(6) Any request for modification or amendment to any loan condition shall be made in writing to the Department and approved by the Finance Manager. The Finance Manager may refer a request for modification or amendment to the Loan Committee for recommendation.
(7) If the Finance Manager consents to any requested modification or amendment, the borrower shall be responsible for all costs of modifying or amending any loan documents, filings, recordings or financing statements.
Notes
Statutory/Other
Statutes/Other Implemented: ORS 285A.075, Ch. 765, OL 1993, OL 2020 2nd SS Ch 10 Sec 26 and 27, ORS 285B.740, ORS 285B.743, ORS 285B.746, ORS 285B.749 & ORS 285B.758