- (1) Loans may be considered in default when three consecutive payments are past due by 30 days or more.
- (2) If the loan is determined to be in default under Subsection R305-4-11(1), the department or Division of Finance may declare the full amount of the defaulted loan, penalty, and interest immediately due.
- (3) The department or Division of Finance need not give notice of default before declaring the full amount due and payable.
- (4) The borrower shall be liable for attorney's fees and collection costs for defaulted loans, whether incurred before or after court action.
KEY: air pollution, clean fuels, grants and loans, motor vehicles
Date of Last Change: February 2, 2023
Notice of Continuation: May 8, 2023
Authorizing, and Implemented or Interpreted Law: 19-1-402 through 19-1-404