Section 6-682-A - Loan procedure(a) General rule.-- (1)(i) The chief recovery officer of a school district that is eligible for a loan under section 681-A(a) may apply to the secretary for a loan on behalf of the school district. The submission of a financial recovery plan to the secretary under section 652-A(d) or 663-A(d) that recommends the application for a loan under section 641- A(4)(ii)(F) shall constitute an application to the secretary for a loan under this subdivision. (ii) If a receiver has been appointed for the school district in accordance with section 671-A(a)(1)(iii), the receiver may apply to the secretary for a loan on behalf of the school district. The submission of a financial recovery plan to the court under section 671-A(b) that recommends the application for a loan pursuant to section 641-A(4)(ii)(F) shall constitute an application to the secretary for a loan under this subdivision. Through an order issued under section 671-A(g), the court shall order the department to approve a loan to the school district under this subdivision if the school district satisfies the criteria stated in section 681-A(a). (2) If a school district satisfies the criteria stated in section 681-A(a), the secretary shall approve the application and request the release of funds from the Secretary of the Budget. (b) Immediate emergencies.-- (1) Notwithstanding the requirements of section 681- A(a), prior to a school district's approval of a financial recovery plan, the chief recovery officer may apply to the secretary for an expedited loan to immediately assist the school district if the chief recovery officer verifies the following upon reasonable belief: (i) all steps have been taken to ensure only critical payments have been made to maintain and continue instruction of students enrolled in the school district; and(ii) either of the following exists: (A) the school district is in imminent danger of insolvency; or (B) the school district may cease operations within 30 days. (2)(i) Upon receipt of an application under this subsection, the secretary shall review all data immediately available and shall determine whether a loan is warranted.(ii) If warranted, the secretary shall approve the application and request the release of the funds from the Secretary of the Budget. The secretary may impose such terms and conditions on a loan approved under this subsection as the secretary determines are necessary and appropriate. (iii) The secretary's determination under this subsection is appealable under 2 Pa.C.S. (relating to administrative law and procedure). Added by P.L. 1142 2012 No. 141, § 10, eff. 7/12/2012.