- (1) Loan repayment shall be the responsibility of the property owner.
- (2) Loans shall be repaid within one year of disbursement.
- (3) If the loan is not fully repaid after one year, the borrower shall pay a 5% late fee on the loan balance.
(4)(a) The office may initiate collection actions to recover unpaid loans.
- (b) As provided by law, interest on the judgment amount, court costs, and attorney's fees may be included in a judgment.
- (c) A judgment shall be a lien on the borrower's real property.
KEY: homeless services, property loss
Date of Last Change: December 8, 2025
Authorizing, and Implemented or Interpreted Law: 35A-16-212