Okla. Admin. Code § 330:30-2-5.1

Current through Vol. 42, No. 6, December 2, 2024

Section 330:30-2-5.1 - Eligibility of Borrowers

(a) The AP, as approved by the Trustees may modify, expand, or clarify the following criteria.

(b) Eligible Borrowers may include any Person as defined in this Chapter.

(c) Each Borrower must meet the requirements set forth in this subsection:

(1) If the Borrower is a business entity, the entity must be in good standing and be qualified to do business in Oklahoma under Oklahoma laws and these Rules.

(2) The Borrower must have all necessary legal authority to incur the obligations relating to the MF Bonds requested.

(3) The Borrower must demonstrate creditworthiness and repayment ability.

(4) The Borrower must demonstrate, it is capable of and can reasonably be expected to achieve successful completion of the proposed Development.

Okla. Admin. Code § 330:30-2-5.1

Added at 20 Ok Reg 2411, eff 7-11-03; Amended at 30 Ok Reg 1977, eff 7-31-13

Amended by Oklahoma Register, Volume 33, Issue 24, September 1, 2016, eff. 10/1/2016