Cal. Code Regs. tit. 14, § 18413 – Conditions of Guarantee.

(a) The debtor is in default of the note, as defined in section 18400(c).
(b) The lender has met the conditions for the issuance of the guarantee and has observed the lender's reporting and collection requirements as specified in sections 18410 and 18411.
(c) The lender has complied with the terms of the loan guarantee contract.

The Board shall honor its guarantee to a lender if:

Note: Authority cited: Sections 46201 and 40502, Public Resources Code. Reference: Sections 46350-46353, 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).