Wis. Admin. Code Department of Administration § Adm 85.02 - Definitions
Current through November 29, 2021
In this chapter:
(1)
"Authority" means the Wisconsin health and educational facilities
authority.
(2) "Borrower" means a
person identified in s.
231.35(2) (a) or
(b) , Stats., who is seeking to have a loan
guaranteed by the authority.
(3)
"Guarantee of collection" means a loan guarantee under which the authority
agrees to pay according to the terms of the guarantee agreement if the
instrument is not paid when due and the participating lender has pursued all
reasonable efforts relative to collection.
(4) "Guarantee of payment" means a loan
guarantee under which the authority agrees to pay according to the terms of the
guarantee agreement if the instrument is not paid when due.
(5) "Participating lender" has the meaning
contained in s.
231.35(1)
(c) , Stats.
Notes
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