Utah Admin. Code 590-280-3

Current through Bulletin 2024-24, December 15, 2024

Section R590-280-3 - Definitions

Terms used in this rule are defined in Sections 31A-1-301 and 31A-17-601. Additional terms are defined as follows:

(1) "SBA" means the United States Small Business Administration.

(2) "Short-term funds" means a sum of money that an insurer loans to an SBA borrower to fund the SBA borrower's anticipated use of SBA 504 loan proceeds where the insurer's loan is secured by a lien on real property or by any other form of collateral authorized by the commissioner.

Utah Admin. Code R590-280-3

Adopted by Utah State Bulletin Number 2019-10, effective 4/23/2019

Amended by Utah State Bulletin Number 2023-02, effective 1/10/2023