§ 138d.12. Action by Secretary.
(a) Prompt action. The Secretary will have final authority regarding loan approval. An applicant is entitled to prompt notice of action on his application after it has been forwarded to the Secretary from the Loan Committee with a recommendation of approval or rejection.
(b) Criteria for action and discretion of Secretary. The Secretary will approve a loan for an applicant only after consideration of the recommendation of the Loan Committee and only in accordance with the eligibility and evaluation criteria and loan limits under § § 138d.3—138d.7 and 138d.10. The Secretary may approve a loan in a lesser amount and on less favorable terms than recommended by the Loan Committee and may impose conditions not recommended by the Loan Committee.
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.
