1. (a) A loan guarantee will expire sixty (60) months after the effective date of the guarantee of on the date the loan is repaid, whichever occurs first.
2. (b) A guarantee may be renewed prior to its termination. The Board will determine whether to renew a guarantee using the same criteria and procedures used to establish a new loan guarantee.
3. (c) A guarantee may exceed sixty (60) months if the Board determines that hazards to public health will exist, or damage to the environment will ensue, or a nuisance to the public will persist if a guarantee with a longer life is not made.

Note: Authority cited: Sections 46201 and 40502, Public Resources Code. Reference: Section 46303, Public Resources Code.

History

1. New section filed 4-2-90; operative 5-2-90 (Register 90, No. 14).

2. Change without regulatory effect amending section filed 5-17-91 pursuant to section 100, title 1, California Code of Regulations (Register 91, No. 27).