OAR 330-105-0015
Committee Review
(1)
The Department will process each loan request and recommend approval or denial of the loan request and specify the amount, terms and conditions of the loan.(2)
The Department will send to the Committee members for review notice of its recommendations, together with a copy of the loan request and the staff review and findings, on the following:(a)
Any loan requests, other than state agency loan requests, of more than $100,000;(b)
State agency loan requests of more than $500,000;(c)
Loan assumption requests of more than $100,000 by non-government borrowers; and(d)
Loan increase requests of more than $25,000 and more than 10 percent of the original approved loan amount where the total loan amount exceeds the limits set above for Committee review.(3)
Failure of the Committee to respond to the Department within 14 days from the date of mailing of the Department’s notice of its recommendations means concurrence with the Department’s recommendations. Should a majority of Committee members, including the Chair, contact the Department and decline to hear the loan request before the 14 days have passed, the Department may proceed with its recommendation.(4)
The Secretary will inform the Committee members, in writing, of each loan amount or loan denial recommended to the Director.
Source:
Rule 330-105-0015 — Committee Review, https://secure.sos.state.or.us/oard/view.action?ruleNumber=330-105-0015.