- (a) A qualified application will be considered by the board at the first available meeting of the Authority, provided that staff has had sufficient time to complete its review of the qualified application.
- (b) Authority approval of qualified applications will be subject to the availability of funds in the young farmer loan guarantee account.
- (c) A nonrefundable application fee of $25 will be required with each qualified application. An origination fee equal to 1.0% of the loan guarantee amount will be due within ten days of the initial funding of each loan, with the application fee to be credited to the origination fee.
- (d) Applications will be analyzed in accordance with the requirements and criteria set forth in the Act and in this chapter.
Source Note:The provisions of this §30.8 adopted to be effective November 15, 1993, 18 TexReg 7539; amended to be effective April 5, 1995, 20 TexReg 2203; amended to be effective September 16, 1997, 22 TexReg 9243.