California Code of Regulations › Title 10 - Investment › Chapter 7.1 - Business, Transportation and Housing Agency: Metal Plating Facility Loan Guarantees › Article 1 - Metal Plating Facility Loan Guarantees › Section 5280 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In addition to the definitions contained in Public Resource
				  Code section
				  42100, the following supplemental
				  definitions shall govern the construction of this chapter:
(a) "Act" means Article 1 (commencing with
				section 42100) of Chapter 2 of Part 3 of
				Division 30 of the Public Resources Code.
(b) "Air District" means the local Air
				Quality Management District or Air Pollution Control District.
(c) "Application" means all of the
				information required by a corporation in order to determine whether to offer a
				borrower a guarantee.
(d) "Board of
				Directors" means the governing board of a corporation established pursuant to
				Corporations Code section
				14055.
(e) "Borrower" means an eligible business
				that has received a commitment for a loan, or has prepared an application. In
				order to be an "eligible business", the business must meet all of the
				eligibility requirements defined in section
				5281.
(f) "CEQA" means the California Environmental
				Quality Act as set forth in Division 13 (commencing with section
				21000) of the Public Resources
				Code.
(g) "Collateral" means those
				personal and business assets of the borrower and guarantor subject to a lien
				under the loan.
(h) "Collection
				guarantee" means a guarantee of a specified percentage of net loan principal
				and ninety (90) days interest at the same percentage. "Net loan principal" as
				used in this paragraph means the amount of loan principal remaining outstanding
				after the lender has fully complied with the collection procedures in section
				5286.
(i) "Corporation" means a Financial
				Development Corporation formed under the California Small Business Financial
				Development Corporation Law (Chapter 1 [commencing with section
				14000], Part 5, Division 3,
				Corporations Code).
(j) "Default"
				means either a delinquency which has not been cured within ninety (90) days, or
				that the borrower is in bankruptcy.
(k) "Delinquency" means the failure of the
				borrower to make any payment when due, pursuant to the terms of the loan,
				except for any principal payment due at the maturity of the loan.
(l) "Demand" means a request for payment by a
				lender to a corporation pursuant to section
				5285.
(m) "Environmental audit" means an
				investigation that may be required by a lender or a corporation into the
				applicant's operations and compliance with federal, state and local
				environmental laws, regulations and rulings, which would indicate whether the
				facility is, or is likely to become, contaminated.
(n) "Environmental control equipment" means
				equipment or technologies that will enable the borrower to meet new or exceed
				existing regulatory requirements, or both, and implement additional pollution
				prevention and emission reduction opportunities.
(o) "Guarantee" means a written agreement to
				warrant the repayment of a portion of a loan or payment of all or a portion of
				a claim, with repayment from the Chrome Plating Pollution Prevention Fund
				established by Public Resources Code section
				42102.
				Every guarantee of a loan shall be either a collection guarantee or a loan
				guarantee.
(p) "Hazardous waste"
				means waste or a combination of wastes as defined in Health and Safety Code
				sections
				25115
				and
				25117.
(q) "Identification number" means a number
				assigned pursuant to Title 22, section
				66262.12 of the California Code of
				Regulations.
(r) "Lender" means a
				banking organization, including national banks and trust companies and state
				chartered commercial banks, savings and loan associations, credit unions, state
				insurance companies, mutual insurance companies, and other banking, lending,
				retirement, and insurance organizations, authorized to conduct business in
				California.
(s) "Loan" means a loan
				by a lender to a borrower, which is guaranteed pursuant to section
				5284, made for the purpose of
				purchasing environmental control equipment.
(t) "Loan agreement" means an agreement for a
				loan entered into between a lender and a borrower that is guaranteed pursuant
				to section
				5284.
(u) "Loan committee" means a committee
				established pursuant to Corporations Code section
				14060 to
				review applications for guarantees and make recommendations to the board of
				directors.
(v) "Loan guarantee"
				means a guarantee of a specified percentage of loan principal and ninety (90)
				days interest at the same percentage.
(w) "NAICS" means North American Industrial
				Classification System code published by the United States Office of Management
				and Budget, 1997 edition.
(x)
				"Reviewing agencies" means the Air Board or Air District, the Department, and
				the Water Board.
(y) "Toxic air
				contaminant" means an air pollutant that may cause or contribute to an increase
				in mortality or in serious illness, or which may pose a present or potential
				hazard to human health. For the purposes of this article, toxic air contaminant
				means a substance identified by the Air Resources Board including, but not
				limited to, hexavalent chromium; nickel and nickel compounds; cadmium and
				cadmium compounds, and, copper and copper compounds.
1. New chapter
				  7.1, article 1 (sections
				  5280-5286) and section filed
				  7-26-2006 as an emergency; operative 7-26-2006 (Register 2006, No. 30). This
				  regulatory action is deemed an emergency, was filed directly with the Secretary
				  of State, and shall remain in effect until revised or repealed by the Business,
				  Transportation and Housing Agency pursuant to Public Resources Code section
				  42106.
Note: Authority cited: Section
					 42106,
					 Public Resources Code. Reference: Sections
					 42100,
					 42101,
					 42102.4
					 and
					 42103,
					 Public Resources Code.