OAR 340-176-0005
Authority, Purpose, and Scope

(1)

These rules are promulgated in accordance with and under the authority of ORS 466.706 (Definitions for ORS 466.706 to 466.882 and 466.994) through 466.835 (Compliance and correction costs as lien) as amended by Chapter 863, Oregon Laws, 1991 (Senate Bill 1215). These rules are in addition to OAR 340, division 172.

(2)

The purpose of these rules is to:

(a)

Provide for the regulation of persons who receive loan guarantees for UST project work at UST facilities holding or that previously held an accumulation of motor fuel for resale; and

(b)

Provide for the regulation of commercial lending institutions who issue guaranteed UST loans.

(3)

These rules establish requirements and standards for:

(a)

Loan guarantees for UST project work;

(b)

Applying and qualifying for a guaranteed loan through a commercial lending institution;

(c)

Loan default; and

(d)

Administration and enforcement of these rules by the Department.

Source: Rule 340-176-0005 — Authority, Purpose, and Scope, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=340-176-0005.

Last Updated

Jun. 8, 2021

Rule 340-176-0005’s source at or​.us