Kan. Admin. Regs. § 110-40-8

Current through Register Vol. 43, No. 49, December 5, 2024

Section 110-40-8 - Guarantee agreement

(a) A guarantee agreement between the department and the lender shall be prepared by the director's office.

(b) The guarantee agreement shall contain two parts consisting of:

(1) a set of general terms and conditions which will be applicable to all Kansas export transactions; and

(2) an attachment to the general terms and conditions designed to identify the specific terms and conditions of each individual transaction.

(c) A guarantee fee as provided in K.S.A. 1989 Supp. 74-5072(c) shall be paid by the lender to the department. The fee shall not be refundable and shall be paid:

(1) not less than five business days from execution of the guarantee agreement by the secretary of commerce; or

(2) not later than the date of the first disbursement under the guaranteed loan, whichever is earlier.

Kan. Admin. Regs. § 110-40-8

Authorized by K.S.A. 1989 Supp. 74-5071; implementing K.S.A. 1989 Supp. 74-5071, 74-5072; effective Oct. 8, 1990.