12 Pa. Code § 81.144 - Loan closing

The Authority will allow a 90-day period from the date of the commitment letter for borrowers to meet the conditions and requirements of the commitment letter for closing. One 90-day extension may be granted by the Executive Director beyond this period and will be reported to the Board at its next meeting following the action with an explanation of the extension.

Notes

12 Pa. Code § 81.144

The provisions of this § 81.144 adopted July 11, 1975, effective 7/12/1975, 5 Pa.B. 1781; amended February 6, 1987, effective 2/7/1987, 17 Pa.B. 634; amended December 23, 2016, effective 3/24/2017, 46 Pa.B. 8035. .

The provisions of this § 81.144 amended under section 9 of the Pennsylvania Minority Business Development Authority Act (73 P.S. § 390.9).