In addition to any other remedies as may be provided by law or in the Fund loan agreement, in the event of noncompliance with any loan condition, requirement of this Chapter, or contract requirement or modification, the Authority may take any of the following actions or combinations thereof:

1. (a) Issue a notice of noncompliance pursuant to Rule 335-15-7-.32;
2. (b) Withhold Fund loan monies pursuant to Rule 335-15-7-.33;
3. (c) Terminate the Fund loan pursuant to Rule 335-15-7-.34.

Author: Aubrey H. White, Lawrence A. Norris

Statutory Authority: Code of Ala. 1975, §§22-30F-2, 22-30F-4.

History: New Rule: Filed October 21, 2004; effective November 25, 2004.