Arkansas Administrative Code › Agency 165 - Arkansas Rehabilitation Services › Rule 165.00.97-002 - Technology Equipment Revolving Loan Fund Rules

Current through Register Vol. 49, No. 6, June, 2024
SUMMARY
These regulations establish the procedures and standards
			 applicable to the "Technology Equipment Revolving Loan Fund" as enacted in
			 Arkansas by Act 384 of 1993 and Act 579 of 1995.
1.
Definitions
A.
"The Acts"
refers to Arkansas
		  Act 384 of 1993 and Act 579 of 1995.
B.
"Assistive Technology/Adaptive
		  Equipment"
stands for any item, off the shelf, modified, or customized,
		  that is used to increase, maintain, or provides a greater level of functioning
		  in one or more of the major life activities of the individual with a
		  disability.
C.
"Applicant"
stands for any individual, organization or entity which
		  submits an application for a loan.
D.
"ICAN"
stands for Increasing
		  Capabilities Access Network.
E.
"Financial Service Provider"
stands for traditional financial
		  institutions.
F.
"Services
		  Provider"
stands for any organization, entity, or individual with which
		  the Technology Equipment Revolving Loan Fund Committee establishes a contract
		  to administer, service and document loans, or the Technology Equipment
		  Revolving Loan Fund Committee when making direct loans or until such time as
		  the Technology Equipment Revolving Loan Fund Committee establishes contracts
		  with an organization, entity, or individual to administer, service and document
		  loans.
G.
"ARS"
stands
		  for Arkansas Rehabilitation Services.
H.
"Committee"
stands for the
		  Technology Equipment Revolving Loan Fund Committee outlined in Act 384 of
		  1993.
I.
"LFS-C"
stands for the Loan Fund Sub-Committee
J.
"Loan Fund"
stands for the
		  Technology Equipment Revolving Loan Fund established in Act 384 of
		  1993.
K.
"Loan"
stands for a loan from a Financial Service Provider, loan guarantee, loan
		  leveraging or a direct loan, from the Technology Equipment Revolving Loan Fund
		  or other entity(s) in which the Technology Equipment Revolving Loan Fund is
		  liable for part or all of the loan litigation.
L.
"Loan Commitment"
stands for
		  a letter from the Technology Equipment Revolving Loan Fund Committee or
		  Services Provider to an applicant agreeing to make a loan subject to terms,
		  conditions and requirements stated therein.
M.
"Note"
stands for a written
		  agreement between the Service Provider, acting as agent for the Technology
		  Equipment Revolving Loan Fund Committee, wherein the qualified borrower
		  promises to repay the loan according to the specified terms and conditions.
N.
"Contract"
stands
		  for any contract between the Technology Equipment Revolving Loan Fund Committee
		  and any appropriate state agency or instrumentality or community based group(s)
		  dealing with persons with disabilities.
O.
"Administrative Contract"
stands for a contract between the ARS and the Service Provider to administer
		  the Program.
P.
"Program"
stands for the Technology Equipment Revolving Loan Fund
		  Program.
Q.
"Qualified
		  Borrower"
stands for an individual or entity which meets the eligibility
		  requirements set forth in this regulation.
R.
"Disability"
stands for any
		  physical or mental impairment which substantially limits one or more major life
		  activities.
S.
"Individual"
stands for an individual with a disability who will
		  benefit from the adaptive equipment or an individual who is a family member or
		  primary care giver to the individual with a disability.
T.
"Business"
stands for any
		  borrower other than an individual including, but not limited to for-profit and
		  not-for profit entities.
U.
"Related Service"
refers to assistive technology service which
		  means any service that directly assists an individual with a disability in the
		  selection, acquisition, or use of an assistive technology device. Such term
		  includes:
1. purchasing, or otherwise
		  providing for the acquisition of assistive technology devices by individuals
		  with disabilities;
2. selecting,
		  designing, fitting, customizing, adapting, applying, maintaining, repairing or
		  replacing of assistive technology devices
T.
"Provider"
refers to an
		  entity that offers "Related Services" as defined in Defination "U".