California Code of Regulations › Title 4 - Business Regulations › Division 13 - California Alternative Energy and Advanced Transportation Financing Authority › Article 4 - Pace Loss Reserve Program › Section 10083 - Claims Against the Loss Reserve Pool

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any PACE Program may make claim for payment from the loss
				  reserve pool for the following losses incurred by first mortgage lenders and
				  limited to losses on the Financings described in Section
				  10082 directly attributable to the
				  existence of a PACE Program lien on a specified property. Losses
				  include:
(a) Losses resulting from the
				first mortgage lender's payment of any PACE assessment paid while in possession
				of the property subject to the PACE assessment. Losses may also include
				penalties and interest where they have accrued through no fault of the first
				mortgage lender.
(b) In any forced
				sale for unpaid taxes or special assessments, losses incurred by the first
				mortgage lender resulting from PACE assessments being paid before the
				outstanding balance.
In no instance shall the loss exceed the amount of the PACE
				  assessment, or in the case of forced sale for unpaid taxes or special
				  assessments, the amount of the delinquent PACE assessments.
1. New section
				  filed 3-10-2014 as an emergency; operative 3-10-2014 (Register 2014, No. 11). A
				  Certificate of Compliance must be transmitted to OAL by 9-8-2014 or emergency
				  language will be repealed by operation of law on the following
				  day.
2. New section refiled 9-8-2014 as an emergency; operative
				  9-8-2014 (Register 2014, No. 37). Pursuant to Public Resources Code section
				  26009,
				  this filing is conclusively presumed to be necessary for the immediate
				  preservation of the public peace, health, safety, or general welfare within the
				  meaning of Government Code section
				  11346.1. A
				  Certificate of Compliance must be transmitted to OAL by 12-8-2014 or emergency
				  language will be repealed by operation of law on the following
				  day.
3. New section refiled 12-5-2014 as an emergency; operative
				  12-5-2014 (Register 2014, No. 49). Pursuant to Public Resources Code section
				  26009,
				  this filing is conclusively presumed to be necessary for the immediate
				  preservation of the public peace, health, safety, or general welfare within the
				  meaning of Government Code section
				  11346.1. A
				  Certificate of Compliance must be transmitted to OAL by 3-5-2015 or emergency
				  language will be repealed by operation of law on the following
				  day.
4. Amendment of first paragraph filed 12-15-2014 pursuant to
				  section 100(a)(6), title
				  1, California Code of Regulations; operative 1-1-2015 pursuant to section
				  100(a)(6), title
				  1, California Code of Regulations (Register 2014, No. 51).
5.
				  Certificate of Compliance as to 12-5-2014 order transmitted to OAL 2-25-2015
				  and filed 4-6-2015 (Register 2015, No. 15).
Note: Authority cited: Section
					 26009,
					 Public Resources Code. Reference: Sections
					 26050,
					 26050.5,
					 26052,
					 26055
					 and
					 26060,
					 Public Resources Code.