The Director:
- (1) May, in writing, waive any of these rules. The waiver must serve the aims of the program, not cause financial damage to the program, and not conflict with ORS Chapter 470.
- (2) May contract with regulated financial institutions, state or federal agencies or others to provide services, subsidies or grants to the program.
- (3) May take such steps as are needed to recover loan funds and prevent their misuse, or to prevent a project from being diverted from its purposes.
- (4) May delegate, in writing, authority to approve, deny or amend loans and to execute bond and loan documents. A partial release of lien may be granted by the Director upon the written request of a borrower if the security value of the remaining security is adequate to secure the loan and meet the security requirements of OAR 330-110-0040. The Director will consider the creditworthiness and repayment history of the borrower in considering such a request.
- (5) May contract with a person to operate a project in the event of any default that results in the Department taking and running the project.
- (6) May settle, modify or release any person from liability for a loan so long as such action does not damage the program.
- (7) May take any action allowed by law to comply with federal codes and rules on bonding or to assure the payment of program bonds.
Statutory/Other Authority
ORS 469 & 470.140
Statutes/Other Implemented
ORS 470.080 & 470.150
History
DOE 13-2012, f. & cert. ef. 12-20-12
DOE 7-2004, f. & cert. ef. 12-20-04
DOE 2-1998, f. & cert. ef. 9-30-98
DOE 4-1988, f. & cert. ef. 7-26-88
DOE 2-1986, f. & ef. 3-4-86
DOE 4-1984, f. & ef. 3-6-84
DOE 3-1983(Temp), f. & ef. 9-20-83
DOE 2-1983, f. & ef. 5-16-83
DOE 6-1982, f. & ef. 4-21-82
DOE 12-1980, f. & ef. 12-16-80