1. (a) The department shall, directly or through a third party, monitor the activities of borrowers and the progress of projects for the following purposes:

   1. (1) to verify compliance with the terms and conditions of contracts and agreements;
   2. (2) to ensure the success of the project; and
   3. (3) to protect the security of program loans.
2. (b) The department shall require borrowers to provide periodic reports using a department-approved format which will provide the information necessary to fulfill the requirement of Section 50786 of the Code and all other requirements of the program.

Note: Authority cited: Sections 50406(n) and 50786(a), Health and Safety Code. Reference: Sections 50406 and 50786, Health and Safety Code; and Section 7938, Title 25, Administrative Code.

History

1. Amendment of section and Note filed 5-11-2001; operative 5-11-2001 pursuant to Government Code section 11343.4 (Register 2001, No. 19).