63N-3-107. Agreements. The
administrator shall enter into agreements with each successful applicant that have specific terms and conditions for each loan, grant, or financial assistance under this part, including:
| (1) |
for a loan:
Terms Used In Utah Code 63N-3-107- Administrator: means the executive director or the executive director's designee. See Utah Code 63N-3-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
| (a) |
repayment schedules; |
| (c) |
specific economic activity required to qualify for the loan or for repayment credits; |
| (d) |
collateral or security, if any; and |
| (e) |
other terms and conditions considered appropriate by the administrator; and |
|
| (2) |
for a grant or other financial assistance:
| (a) |
requirements for compliance monitoring, for a period of five years; |
| (b) |
repayment for nonperformance or departure from the state; |
| (c) |
collateral or security, if any; and |
| (d) |
other terms and conditions considered appropriate by the administrator. |
|
Amended by Chapter 499, 2023 General Session
