1. (1) Application for a loan must be made on forms incorporated in Section R311-212-10, in accordance with Subsection 19-6-409(9); loan applications will be accepted during application periods designated by the director.

2. (2) At least one application period shall be designated each calendar year if, on January 1:

   1. (a) the current balance due for outstanding loans is less than 25% of the cash balance of the Petroleum Storage Tank Fund; and
   2. (b) the cash balance of the Fund exceeds $10,000,000.
3. (3) If the requirements of Subsections R311-212-2(2)(a) and R311-212-2(2)(b) are not met on January 1, but are met at a later time in the calendar year, the director may designate an application period.

4. (4) An open application period will close if:

   1. (a) the current balance due for outstanding loans exceeds 25% of the cash balance of the Fund; or
   2. (b) the cash balance of the Fund is less than $10,000,000.
5. (5) If an open application period closes as required by Subsection R311-212-2(4), loan applications currently under review when the application period closes may be renewed when a new application period opens, unless the applicant must re-apply as required by Subsection R311-212-5(1).
6. (6) Applications must be received by the director by 5 p.m. on the last day of the application period.
7. (7) Loan applications received outside the application period will be invalid.

KEY: hazardous substances, petroleum, underground storage tanks

Date of Last Change: November 14, 2025

Notice of Continuation: March 8, 2022

Authorizing, and Implemented or Interpreted Law: 19-6-105; 19-6-403; 19-6-409