justicedao/ipfs_state_laws huggingface dataset:
123-021-2600 Application Procedure (1) A Financial Institution seeking loan insurance under the Program is responsible for submitting a complete application to the Department. The Department will not consider an application unless the Department determines that the application is complete and that information sufficient to make an informed decision on the application has been received. (2) The Department will approve an application only in an insurance amount, insured percentage of loan principal, and insurance term that are necessary and prudent to complete the financing. (3) No application will be approved unless the Department makes the following determinations: (a) There is a reasonable prospect that the Borrower will repay a loan according to its terms; (b) The insured loan will be serviced by the Financial Institution that applies for the insurance; and (c) The Borrower is eligible and the proceeds of the insured loan will be used for an eligible purpose. (4) In reviewing applications, the Department will consider the following, as applicable: (a) The extent to which the Borrower demonstrates a need for an insured loan; (b) The economic feasibility of the project as evidenced by the Borrower's past and present financial circumstances, business experience and the commercial reasonableness of the business proposal and financial projections; (c) Whether the Borrower and guarantors have satisfactory credit histories; (d) Whether the Borrower has sufficient capital and other resources to conduct the business as planned; (e) The amount and source of equity contributed by the Borrower; (f) The adequacy of the collateral offered for the loan; (g) The extent to which the risk of financial loss is shared by the Borrower, Financial Institution and the Fund; (h) The viability of the industry of which the Borrower is a part and the contribution of the Borrower to that industry; and (i) The extent to which the Borrower and project contribute to the local economy, industry diversification within the region, and local employment opportunities. Statutory/Other Authority: ORS 285A.075 & 285B.200 - 285B.218 Statutes/Other Implemented: ORS 285B.200 - 285B.218 History: OBDD 2-2024, amend filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary amend filed 10/13/2023, effective 10/13/2023 through 04/05/2024 OBDD 27-2023, renumbered from 123-021-0500, filed 10/06/2023, effective 10/06/2023 OBDD 4-2023, temporary amend filed 01/25/2023, effective 01/25/2023 through 07/23/2023 OBDD 3-2023, renumbered from 123-021-0050, filed 01/18/2023, effective 01/18/2023 OBDD 7-2016, f. & cert. ef. 6-3-16 OBDD 6-2016(Temp), f. & cert. ef. 4-11-16 thru 10-7-16 EDD 17-2009, f. 10-30-09, cert. ef. 11-1-09 EDD 24-2008, f. 7-31-08, cert. ef. 8-1-08 EDD 5-2008(Temp), f. & cert. ef. 2-26-08 thru 8-1-08 Reverted to EDD 11-1998, f. & cert. ef. 5-22-98 EDD 4-2007(Temp), f & cert. ef. 8-28-07 thru 2-22-08 EDD 11-1998, f. & cert. ef. 5-22-98 Reverted to EDD 11-1994, f. & cert. ef. 7-29-94 EDD 12-1997(Temp), f. & cert. ef. 10-7-97 EDD 11-1994, f. & cert. ef. 7-29-94 EDD 5-1994(Temp), f. & cert. ef. 3-3-94
123-021-2700 Application Decision (1) The director or director’s designee will either approve or decline an application. Upon approval of an application, the Department will issue a Loan Insurance Authorization setting forth the terms and conditions upon which the loan will be insured. (2) No Loan Insurance Authorization shall become effective until the Financial Institution has paid the initial loan insurance premium required by OAR 123-021-3600 and the Department and Financial Institution have entered into a Lender Agreement. (3) If the director or the director’s designee declines an application, upon written request, the Department will provide the Financial Institution a notice that includes the reasons for declining the application. The notice shall include a notice of the Financial Institution’s opportunity to appeal the director’s or their designees’ decision to the Oregon Business Development Commission’s Finance Committee. Statutory/Other Authority: ORS 285A.075 & 285B.200 - 285B.218 Statutes/Other Implemented: ORS 285B.200 - 285B.218 History: OBDD 2-2024, amend filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary amend filed 10/13/2023, effective 10/13/2023 through 04/05/2024 OBDD 27-2023, renumbered from 123-021-0600, filed 10/06/2023, effective 10/06/2023 OBDD 4-2023, temporary amend filed 01/25/2023, effective 01/25/2023 through 07/23/2023 OBDD 3-2023, renumbered from 123-021-0060, filed 01/18/2023, effective 01/18/2023 EDD 17-2009, f. 10-30-09, cert. ef. 11-1-09 EDD 24-2008, f. 7-31-08, cert. ef. 8-1-08 EDD 11-1994, f. & cert. ef. 7-29-94 EDD 5-1994(Temp), f. & cert. ef. 3-3-94
123-021-2800 Appeal to the Oregon Business Development Commission’s Finance Committee A Financial Institution may appeal the decision of the Department declining the Financial Institution’s application. The appeal will be considered by the Oregon Business Development Commission’s Finance Committee. The Financial Institution must file a notice of appeal in writing to the Department within thirty days of the date of the Department’s notice declining the application. The notice of appeal must include a copy of the Department’s notice, a statement of why the decision should be reconsidered and any relevant supporting documentation. The Department will inform an appealing applicant of the time and location of the public meeting to consider the appeal, and the Financial Institution may be present to support the appeal through public comment. Statutory/Other Authority: ORS 285A.075 & 285B.200 - 285B.218 Statutes/Other Implemented: ORS 285B.200 - 285B.218 History: OBDD 2-2024, amend filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary amend filed 10/13/2023, effective 10/13/2023 through 04/05/2024 OBDD 27-2023, renumbered from 123-021-0700, filed 10/06/2023, effective 10/06/2023 OBDD 4-2023, temporary amend filed 01/25/2023, effective 01/25/2023 through 07/23/2023 OBDD 3-2023, renumbered from 123-021-0070, filed 01/18/2023, effective 01/18/2023 EDD 17-2009, f. 10-30-09, cert. ef. 11-1-09 EDD 24-2008, f. 7-31-08, cert. ef. 8-1-08 EDD 11-1998, f. & cert. ef. 5-22-98 Reverted to EDD 11-1994, f. & cert. ef. 7-29-94 EDD 12-1997(Temp), f. & cert. ef. 10-7-97 EDD 11-1994, f. & cert. ef. 7-29-94 EDD 5-1994(Temp), f. & cert. ef. 3-3-94
123-021-3000 Conventional Insurance Program Under Conventional Insurance, the Department insures: (1) Up to 80 percent of the original principal amount of a loan in an amount not to exceed the lesser of $6,000,000 or the product of the Authorized Loan Amount multiplied by the insured percentage. (2) A maximum term that is the lesser of: (a) The useful life of the assets being financed; (b) The useful life of the assets used to secure the loan, if different than those financed by the loan; or (c) Ten years, except that the term for Working Capital Loans shall not exceed seven years. (3) Unless otherwise specified by rule, Conventional Insurance is available for all types of non-revolving loans with regular periodic payments of principal and interest, no less than annually, including Working Capital Loans that are secured by fixed assets or other collateral determined to be sufficient by the Department. Unless otherwise approved in writing by the Department, regular periodic payments of principal and interest must commence within 180 days of the loan closing date. (4) At the discretion of the Department, Conventional Insurance may be provided to a term loan made to refinance existing revolving debt held by t he Financial Institution applying for insurance on the proposed loan. Statutory/Other Authority: ORS 285A.075 & 285B.200 - 285B.218 Statutes/Other Implemented: ORS 285B.200 - 285B.218 History: OBDD 4-2026, amend filed 02/20/2026, effective 02/20/2026 OBDD 2-2024, amend filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary amend filed 10/13/2023, effective 10/13/2023 through 04/05/2024 OBDD 27-2023, renumbered from 123-021-0900, filed 10/06/2023, effective 10/06/2023 OBDD 4-2023, temporary amend filed 01/25/2023, effective 01/25/2023 through 07/23/2023 OBDD 3-2023, renumbered from 123-021-0090, filed 01/18/2023, effective 01/18/2023 OBDD 7-2016, f. & cert. ef. 6-3-16 OBDD 6-2016(Temp), f. & cert. ef. 4-11-16 thru 10-7-16 OBDD 5-2015, f. & cert. ef. 8-3-15 Reverted to OBDD 3-2013, f. & cert. ef. 5-23-13 OBDD 1-2015(Temp), f. & cert. ef. 1-26-15 thru 7-24-15 OBDD 3-2013, f. & cert. ef. 5-23-13 Reverted to OBDD 7-2012, f. & cert. ef. 6-1-12 OBDD 18-2012(Temp), f. & cert. ef. 11-20-12 thru 5-17-13 OBDD 7-2012, f. & cert. ef. 6-1-12 OBDD 8-2011(Temp), f. & cert. ef. 12-8-11 thru 6-5-12 EDD 17-2009, f. 10-30-09, cert. ef. 11-1-09 EDD 24-2008, f. 7-31-08, cert. ef. 8-1-08 EDD 5-2008(Temp), f. & cert. ef. 2-26-08 thru 8-1-08 EDD 1-2006, f. & cert. ef. 2-10-06 Reverted to EDD 11-1994, f. & cert. ef. 7-29-94 EDD 6-2005(Temp), f. & cert. ef. 8-5-05 thru 1-31-06 Reverted to EDD 11-1994, f. & cert. ef. 7-29-94 EDD 13-2002(Temp), f. & cert. ef. 6-18-02 thru 12-13-02 EDD 11-1994, f. & cert. ef. 7-29-94 EDD 5-1994(Temp), f. & cert. ef. 3-3-94
123-021-3100 Collateral Support Insurance Program (1) Collateral Support Insurance is only intended to mitigate a collateral shortfall at the maturity of an existing loan secured by real estate and is not available to mitigate other or additional credit deficiencies. Collateral Support Insurance will only be provided to the extent necessary to facilitate the loan’s qualification under the Financial Institution’s lending guidelines. Loans covered by Collateral Support Insurance must satisfy a participating Financial Institution’s credit underwriting criteria with the sole exception of collateral adequacy. Insured loans must be amortized during the term of the Collateral Support Insurance to adequately reduce the principal balance of the insured loan in order to comply with the Financial Institution’s current advance rate policy based upon the collateral’s appraised value at the time of loan approval at or before the maturity of the Collateral Support Insurance. (2) Loan proceeds may be used to pay off an existing loan only when the collateral value is no longer adequate to secure the loan due to a decline in the collateral’s value and the Borrower does not qualify for a loan that is less than fully secured at origination. (3) Under Collateral Support Insurance, the Department’s maximum liability, up to a maximum of 100 percent of the Deficiency of a loan, shall be the lesser of: (a) $1,500,000; (b) 20% of the insured loan; or, (c) The insured percentage times the authorized and insured loan amount. (4) Collateral Support Insurance may not exceed a term of 5 years. (5) Borrowers with loans covered by Collateral Support Insurance must: (a) Demonstrate significant current and historical cash flow coverage; (b) Demonstrate strong credit history; (c) Demonstrate strong personal and corporate guarantee strength; (d) Provide personal guarantees of Principals of the Borrower; (e) May not have already had, or currently have, a loan covered by Collateral Support Insurance; and (f) Meet such other criteria as determined by the Department. (6) Unless otherwise specified by rule, Collateral Support Insurance is available for all types of non-revolving loans with regular periodic payments of principal and interest no less than annually for eligible purposes. To be eligible, regular periodic payments of principal and interest must commence within 60 days of the loan closing date. Statutory/Other Authority: ORS 285A.075 & ORS 285B.200 - ORS 285B.218 Statutes/Other Implemented: ORS 285B.200 - ORS 285B.218 History: OBDD 2-2024, adopt filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary adopt filed 10/13/2023, effective 10/13/2023 through 04/05/2024
123-021-3200 Evergreen Insurance Program (1) Under Evergreen Insurance, the Department may insure up to 80 percent of the maximum principal amount of a line of credit in an amount not to exceed the lesser of $1,600,000 or the product of the Authorized Loan Amount multiplied by the insured percentage. (2) To qualify for the Evergreen Insurance Program, the Qualified Business must be an existing or proposed business with operations in Oregon that: (a) Lacks an existing revolving line of credit; or (b) Seeks a new revolving line of credit to replace an existing line of credit that is within 120 days of cancellation or expiration by a lender other than the Financial Institution filing the application for Evergreen Insurance; or (c) Seeks an increase to an existing revolving line of credit. (3) The maximum term of Evergreen Insurance is one year. (4) To issue Evergreen Insurance, the Department must determine that the Financial Institution is sufficiently experienced and capable of operating such a lending program effectively. At the minimum, a Financial Institution must: (a) Have the capacity to service the loan effectively, including monitoring compliance with any audit, advance and control procedures and limits prescribed by the Department or comparable procedures of the Financial Institution approved by the Department; (b) Have in place and operate a lending program specializing in line of credit loans secured by, or with, advances based upon eligible accounts receivable and inventory or other assets; and (c) Monitor the line of credit to ensure compliance with eligible advance rates and use of proceeds in accordance with the Financial Institution’s approved credit display and the Loan Insurance Authorization. Statutory/Other Authority: ORS 285A.075 & ORS 285B.200 - ORS 285B.218 Statutes/Other Implemented: ORS 285B.200 - ORS 285B.218 History: OBDD 4-2026, amend filed 02/20/2026, effective 02/20/2026 OBDD 2-2024, adopt filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary adopt filed 10/13/2023, effective 10/13/2023 through 04/05/2024
123-021-3500 Lender Agreement No Loan Insurance Authorization shall be effective unless the Financial Institution and the Department have executed a Lender Agreement in a form acceptable to the Department setting forth the relative rights and responsibilities of the Financial Institution and the Department for all insured loans. The Lender Agreement shall include the following: (1) Provisions incorporating the requirements of this division of the rules and ORS 285.466 to 285.481. (2) Provisions setting forth the responsibilities of the Financial Institution to prudently underwrite and service insured loans in such a manner as would be the normal and customary practice of a prudent lender making or servicing a loan without relying on loan insurance. (3) A requirement that the Financial Institution notify the Department in writing within 5 business days after a Borrower's payment is 30 business days late and within 30 business days of any other default or other event or condition indicating that the loan may not be repaid in full. Upon default, the Financial Institution shall provide the Department a liquidation plan detailing such action as may be prudent, including without limitation foreclosing on and liquidating collateral. After obtaining the Department’s approval of the liquidation plan, the Financial Institution shall take such action to foreclose on and liquidation the assets and pursue remedies against the guarantees securing the loan. (4) A description of the Department’s insurance Programs and the method for paying insurance claims. (5) The Department shall be entitled at its discretion to cancel or reduce its insurance obligation if the Financial Institution breaches its responsibilities under the Lender Agreement or the Department-approved liquidation plan. (6) Such other terms and conditions as the Department deems appropriate. Statutory/Other Authority: ORS 285A.075 & 285B.200 - 285B.218 Statutes/Other Implemented: ORS 285B.200 - 285B.218 History: OBDD 2-2024, amend filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary amend filed 10/13/2023, effective 10/13/2023 through 04/05/2024 OBDD 27-2023, renumbered from 123-021-1400, filed 10/06/2023, effective 10/06/2023 OBDD 4-2023, temporary amend filed 01/25/2023, effective 01/25/2023 through 07/23/2023 OBDD 3-2023, renumbered from 123-021-0100, filed 01/18/2023, effective 01/18/2023 EDD 17-2009, f. 10-30-09, cert. ef. 11-1-09 EDD 24-2008, f. 7-31-08, cert. ef. 8-1-08 EDD 11-1994, f. & cert. ef. 7-29-94 EDD 5-1994(Temp), f. & cert. ef. 3-3-94
123-021-3700 Administrative Costs of the Program The Department may charge the fund actual and necessary administrative expenses in operating the Fund and its programs. Statutory/Other Authority: ORS 285A.075 & 285B.200 - 285B.218 Statutes/Other Implemented: ORS 285.476(2), (5) & 285.471(1)(b) History: OBDD 2-2024, amend filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary amend filed 10/13/2023, effective 10/13/2023 through 04/05/2024 OBDD 27-2023, renumbered from 123-021-1600, filed 10/06/2023, effective 10/06/2023 OBDD 4-2023, temporary amend filed 01/25/2023, effective 01/25/2023 through 07/23/2023 OBDD 3-2023, renumbered from 123-021-0120, filed 01/18/2023, effective 01/18/2023 EDD 17-2009, f. 10-30-09, cert. ef. 11-1-09 EDD 24-2008, f. 7-31-08, cert. ef. 8-1-08 EDD 11-1994, f. & cert. ef. 7-29-94 EDD 5-1994(Temp), f. & cert. ef. 3-3-94
123-021-3800 Confidential Records (1) The director or the director’s designee shall provide nonexempt Program records for inspection in accordance with ORS Chapter 192. (2) The person requesting inspection of the records may be charged in advance the Department's cost for locating, compiling, copying, and mailing the records. Such costs shall include but not be limited to costs incurred in locating records, separating exempt and nonexempt records, having a custodian present during the inspection, preparing lists of data, making photocopies, and delivering materials. Fees to be collected shall be set forth in the Department's schedule of fees and may be amended from time to time as the Department in its sole discretion may determine. (3) Except as otherwise provided in ORS Chapter 192, records exempt from disclosure include, but are not limited to: (a) Reports and analyses of reports obtained in confidence from creditors, employers, customers, suppliers, and others which bear on the Borrower's character, finances, management ability, and reliability and which were obtained from persons or firms not required by law to submit them; (b) Tax returns, business records, employment history and other personal data submitted by or for Borrowers, or analysis of such data; (c) Interdepartmental advisory memoranda developed prior to a loan insurance decision; (d) Formulas, plans, designs and related information which constitute trade secrets under ORS Chapter 192; (e) Financial statements of Borrowers, Principals, guarantors or affiliates of those parties relating to an insured loan; (f) Customer lists; (g) Information of a Borrower pertaining to litigation to which the Borrower is a party if the complaint has been filed, or if the complaint has not been filed, if the Borrower shows that such litigation is reasonably likely to occur. This exemption does not apply to litigation which has been concluded and nothing is this section shall limit any right or opportunity granted by discovery or deposition statutes to a party to litigation or potential litigation; (h) Production, sales and cost data; and (i) Marketing strategy information that relates to a Borrower's plan to address specific markets and Borrower's strategy regarding specific competitors. Statutory/Other Authority: ORS 285A.075 & 285B.200 - 285B.218 Statutes/Other Implemented: ORS 192.430 & 285.035(5) History: OBDD 2-2024, amend filed 03/06/2024, effective 03/08/2024 OBDD 28-2023, temporary amend filed 10/13/2023, effective 10/13/2023 through 04/05/2024 OBDD 27-2023, renumbered from 123-021-1700, filed 10/06/2023, effective 10/06/2023 OBDD 4-2023, temporary amend filed 01/25/2023, effective 01/25/2023 through 07/23/2023 OBDD 3-2023, renumbered from 123-021-0140, filed 01/18/2023, effective 01/18/2023 EDD 17-2009, f. 10-30-09, cert. ef. 11-1-09 EDD 24-2008, f. 7-31-08, cert. ef. 8-1-08 EDD 11-1994, f. & cert. ef. 7-29-94 EDD 5-1994(Temp), f. & cert. ef. 3-3-94
123-022-0060 Purpose The purpose of these rules is to provide procedures, standards, and criteria for making grants under ORS 285B.168 and 285A.340 to 285A.349 to community colleges, community college service districts, and other allowed entities to assist in the improvement and formation of small business development centers. Statutory/Other Authority: 285B.165 - 285B.180 & ORS 285A.075 Statutes/Other Implemented: ORS 285A.340 - 285A.349 & 285B.165 - 285B.180 History: OBDD 1-2018, amend filed 01/18/2018, effective 01/18/2018 EDD 6-1998, f. & cert. ef. 4-22-98
123-022-0070 Definitions For the purposes of these rules definitions may be found in Procedural Rules, OAR 123-001. As used in this division of administrative rules, unless the context requires otherwise the following definitions apply: (1) "Small Business Development Center" means a community college-based and state university-based center which helps small businesses develop and improve skill in such areas as marketing management and capital formation. (2) "Oregon Small Business Development Center Network" means the statewide network of small business development centers. Statutory/Other Authority: ORS 285A.075 Statutes/Other Implemented: ORS 285A.340 - 285A.075 285A.349 & 285B.165 - 285B.180 History: OBDD 1-2018, amend filed 01/18/2018, effective 01/18/2018 EDD 23-2009, f. 11-30-09, cert. ef. 12-1-09 EDD 6-1998, f. & cert. ef. 4-22-98
123-022-0080 Eligibility Criteria To be eligible for a grant, an entitle must be: (1) a community college district, or a community college service district; or (2) a public university listed in ORS 352.002; or (3) a service provider offering small business development services in a specific geographic area that is not covered by entities described in (1) or (2). Statutory/Other Authority: ORS 285A.075 Statutes/Other Implemented: ORS 285A.340 - 285A.349 & 285B.165 - 285B.180 History: OBDD 1-2018, amend filed 01/18/2018, effective 01/18/2018 EDD 23-2009, f. 11-30-09, cert. ef. 12-1-09 EDD 6-1998, f. & cert. ef. 4-22-98
123-022-0090 Application and Award Procedures (1) Each applicant for a small business development center grant shall submit a work plan to the Oregon Small Business Development Center Network office. The annual work plan shall include: (a) Evidence of the potential demand for assistance; (b) Plans for involving other training resources and expert resource people from the business community; (c) A plan to offer business counseling to the small business community; (d) A budget for the year(s) for which a grant is requested, which includes in-kind contributions or combination of funds and contributions that the Small Business Development Center will be providing that may include federal, state, college or university, and client funds. (e) A plan to participate in evaluations conducted by the Oregon Small Business Development Center Network office. (f) A plan for alignment with Department’s job creation and retention definitions, policy and reporting methodology; (g) A plan for alignment with Department strategic goals and focus on key industries (2) The Oregon Small Business Development Center Network office shall review and approve the work plans submitted by applicants prior to disbursement of grant funds to the Small Business Development Center program recipients. Statutory/Other Authority: ORS 285A.075 Statutes/Other Implemented: ORS 285A.340 - 285A.349 & 285B.165 - 285B.180 History: OBDD 1-2018, amend filed 01/18/2018, effective 01/18/2018 EDD 23-2009, f. 11-30-09, cert. ef. 12-1-09 EDD 6-1998, f. & cert. ef. 4-22-98