§ 81.144. Loan closing.
The Authority will allow a 90-day period from the date of the commitment letter for borrowers to meet the conditions and requirements of the commitment letter for closing. One 90-day extension may be granted by the Executive Director beyond this period and will be reported to the Board at its next meeting following the action with an explanation of the extension.
Authority The provisions of this § 81.144 amended under section 9 of the Pennsylvania Minority Business Development Authority Act (73 P.S. § 390.9).
Source The provisions of this § 81.144 adopted July 11, 1975, effective July 12, 1975, 5 Pa.B. 1781; amended February 6, 1987, effective February 7, 1987, 17 Pa.B. 634; amended December 23, 2016, effective March 24, 2017, 46 Pa.B. 8035. Immediately preceding text appears at serial pages (230942) to (230943).
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