Ala. Admin. Code r. 305-5-4-.04

Current through Register Vol. 43, No. 1, October 31, 2024

Section 305-5-4-.04 - Powers And Duties Of the Department

The Department shall:

(a) Accept appropriations from the General Fund to be utilized in establishing or recapitalizing Regional RLFs.

(b) Develop policies and procedures to ensure accountability of funds distributed to regions to ensure that said funds are loaned according to state statutes and federal program guidelines.

(c) Develop rules and regulations and oversight procedures for Regional RLF policies and set procedures for making loans, for the repayment of loans and for administrative costs.

(d) Develop an allocation process for distribution of $500,000 from the 1990-91 General Fund and any future appropriations from this or other sources.

Authors: David S. Barley, Jr.; Dr. Don C. Hines.

Ala. Admin. Code r. 305-5-4-.04

Filed November 19, 1990; effective December 24, 1990.

Statutory Authority: Act 90-650, Legislature of the State of Alabama.