California Code of Regulations › Title 12 - Military and Veterans Affairs › Division 2 - Department of Veterans Affairs › Chapter 2 - Veterans' Farm and Home Purchases › Subchapter 1 - Eligibility and Qualifications › Section 305.1 - Subsequent Loan Benefit; Enlisted Personnel

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An
				  "overnight reenlistment" into military service qualifies as a separate period
				  of service. For purposes of this section, an "overnight reenlistment" is
				  defined as an event wherein a veteran is discharged on one day and reenlists in
				  military service the following day with no intent of resuming civilian
				  life.
(b) A veteran, as defined in
				  Section
				  980
				  of the Military and Veterans Code, who served during more than one qualifying
				  war period, as specified in Section
				  980
				  (World War II, Korea, Vietnam, Operation Desert Shield or Operation Desert
				  Storm) shall be granted a subsequent opportunity to purchase a property under
				  the Cal-Vet loan program if the qualifying war periods were served during
				  different periods of enlistment, even if there was no distinct break between
				  enlistments ("overnight reenlistment"). Only one Cal-Vet loan shall be granted
				  for service during any one qualifying war period, and only one Cal-Vet loan
				  shall be granted per period of enlistment.
(c) A veteran, as defined in Section
				  980 of the Military and Veterans
				  Code, who served during a qualifying war period, as specified in Section
				  980 (World War II, Korea, Vietnam,
				  Operation Desert Shield, or Operation Desert Storm) under one period of
				  enlistment, and who, during a subsequent reenlistment served in a campaign or
				  expedition, at any time, for service in which a medal has been authorized by
				  the federal government, shall be granted a subsequent opportunity to purchase
				  property under the Cal-Vet loan program even if there was no distinct break
				  between enlistments ("overnight reenlistment"). Only one Cal-Vet loan shall be
				  granted for service during any one qualifying war period, campaign, or
				  expedition, and only one Cal-Vet loan shall be granted per period of
				  enlistment.
(d) The first Cal-Vet
				  loan must be sold, or the veteran's interest must have been divested through
				  divorce or dissolution of marriage, and the contract paid in full before the
				  veteran may obtain a subsequent loan and the veteran must be qualified under
				  the federal restrictions on the uses of tax-exempt bonds at the time the
				  subsequent loan is funded.
(e) If
				  the veteran has dual eligibility (qualifies for veteran status under two
				  qualifying war periods), then the previous Cal-Vet loan must have been paid in
				  full, but the property need not be sold.
1. New
					 section filed 12-9-91; operative 1-8-92 (Register 92, No. 9).
2.
					 Change without regulatory effect amending subsection (d), new subsection (e)
					 and amendment of NOTE filed 12-2-96 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 96, No. 49).
Note: Authority cited: Section
						700,
						Military and Veterans Code. Reference: Sections
						980,
						987.86(a),
						987.86(b),
						987.86(c)
						and
						987.86(d),
						Military and Veterans Code; 26 United States Code Annotated, Section
						143 and
						56, Ops.Atty.Gen. 294,
						6-27-73.