- (1) In accordance with this part, the Department shall issue a loan guarantee certificate to an applicant who has filed a complete application and meets the requirements of OAR 340, division 172 and this Division.
- (2) Only one loan guarantee certificate shall be issued for each facility location. All tanks at a facility location shall be covered by the loan guarantee certificate.
- (3) An applicant may receive a loan guarantee certificate for more than one facility location.
- (4) The loan applicant may not assign any right, title, and interest in the loan guarantee certificate to any person other than a subsequent property owner, tank owner or permittee of the underground storage tank facility.
- (5) Loan guarantee certificates shall be valid for one year from the date of issue. A certificate may be renewed subject to availability of funds from the USTCCA fund.
Statutory/Other Authority
ORS 466.706 - 466.895 & 466.995
Statutes/Other Implemented
OL 1989 & Ch. 1071
History
DEQ 14-1992, f. & cert. ef. 6-11-92
DEQ 29-1991(Temp), f. 12-18-91, cert. ef. 12-20-91