§ 205.7. Emergency loans.
In a year during the existence of the Supplemental State Assistance fund, a municipality to which level III of the recovery program applies and in which there exists the possibility of imminent default during the next 12 consecutive calendar months in the payment of retirement and other benefits by one or more of the pension plans maintained by the municipality may apply to the Commission for a loan under section 607(k) of the act (53 P. S. § 895.607(k)). Applications for emergency loans shall be mailed to the following address: Commonwealth of Pennsylvania, Public Employee Retirement Study Commission, Post Office Box 1429, Harrisburg, Pennsylvania 17105-1429.
Source The provisions of this § 205.7 adopted December 18, 1987, effective December 19, 1987, 17 Pa. B. 5234; amended July 24, 1992, effective July 25, 1992, 22 Pa. B. 3839. Immediately preceding text appears at serial page (138249).
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