reglab/statecodes huggingface dataset:
Oklahoma Administrative Code › Title 195 - Board of Dentistry › Chapter 30 - Rules on Annual Registration of Dispensers of Dangerous Drugs › Section 195:30-1-7 - Exemptions

Current through Vol. 41, No. 20, July 1, 2024
A dentist who dispenses professional samples to his patients
				shall be exempt from the provisions of this chapter if:
(1) The dentist furnishes the professional
			 sample to the patient in the package provided by the manufacturer;
(2) No charge is made to the
			 patient;
(3) An appropriate record
			 is entered in the patient's chart.
Oklahoma Administrative Code › Title 195 - Board of Dentistry › Chapter 30 - Rules on Annual Registration of Dispensers of Dangerous Drugs › Section 195:30-1-9 - Violations

Current through Vol. 41, No. 20, July 1, 2024
(a)
Penalties.
A dentist who violates the provisions of 59 O.S.,
			 Sections 355 et seq., or the rules of this chapter, shall be subject to
			 disciplinary action by the Board including but not limited to revocation of
			 license, suspension, probation or public or private reprimand, as provided in
			 59 O.S., Section 328.32.
(b)
Procedure.
Any disciplinary action for violation of 59 O.S.,
			 Section 355 et seq., or the rules of this chapter, shall be conducted according
			 to the provisions of 59 O.S., Sections 328.32, 328.43, 328.45, 328.46, any
			 applicable rules of the Board, and any applicable provisions of the
			 Administrative Procedures Act.
Oklahoma Administrative Code › Title 195 - Board of Dentistry › Chapter 35 - Infection Control › Section 195:35-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The purpose of rules contained herein is to establish proper
				sterilization, disinfection, and other infection control procedures in the
				practice of dentistry. Failure of a dental health care worker to practice and
				maintain these procedures constitutes a significant danger to public health and
				safety. Any violation of the rules regarding infection control in this chapter
				and applicable statutes, rules, or regulations that may be incorporated by
				reference herein or that may apply otherwise through federal or state mandate
				or regulation shall be considered a failure to safeguard the public interest
				and thus shall constitute, at a minimum, negligence in the performance of
				dental services and failure to use proper diligence in the conduct of dental
				practice.
Added at 13 Ok Reg 2953,
				eff 7-11-96
Oklahoma Administrative Code › Title 195 - Board of Dentistry › Chapter 35 - Infection Control › Section 195:35-1-2 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words or terms, when used in this chapter, shall
				have the following meaning, unless the context clearly indicates
				otherwise.
"Barrier techniques"
means the use of protective
				items against infection transmission during any intraoral or invasive procedure
				to include appropriate gloves for the procedure performed. This definition
				shall include protective eye wear and nasal/oral masks when "splash, splatter,
				or aerosol of body fluids is possible or expected.
"Dental Health Care Worker"
means a dentist or
				dental specialist, dental hygienist, dental assistant, dental laboratory
				technician, dental student, dental hygiene student, or dental assisting
				student.
"Disinfection"
means the partial elimination of
				active growth stage bacteria and the inactivation of some viruses. The
				potential for infection remains after disinfection, including infection with M
				tuberculosis, hepatitis A virus (HAV) and hepatitis B virus (HBV). The human
				immunodeficiency virus (HIV) may also remain active following
				disinfection.
"Sterilization"
means a process by which all forms
				of life within a defined environment are completely
				destroyed.
Added at 13 Ok Reg 2953,
				eff 7-11-96
Oklahoma Administrative Code › Title 195 - Board of Dentistry › Chapter 35 - Infection Control › Section 195:35-1-3 - Required sterilization and disinfection

Current through Vol. 41, No. 20, July 1, 2024
(a) Sterilization is required for all
			 surgical and other instruments that may be used intra orally or extra orally,
			 where these instruments may be used invasively in penetration of soft tissue,
			 bone, or other hard tissue. Other non-surgical instruments, such as plastic
			 instruments, that may come in contact with tissue must be disinfected with a
			 solution that is tuberculocidal.
(b) All instruments subject to sterilization
			 must undergo at least one of the following procedures:
(1) Steam autoclave
(2) Chemical vapor autoclave
(3) Dry-heat oven
(4) Ethylene oxide
(5) Chemical sterilant (used in
			 concentrations and time periods approved by the manufacturer)
Oklahoma Administrative Code › Title 195 - Board of Dentistry › Chapter 35 - Infection Control › Section 195:35-1-4 - Dental health care workers

Current through Vol. 41, No. 20, July 1, 2024
(a) All dental health care workers shall
			 comply with the following:
(1) The universal
			 precautions; recommended for dentistry by the Centers for Disease Control and
			 Prevention (CDC);
(2) The
			 Guidelines on HIV infected Health Care Workers adopted by the State Department
			 of Health; and
(3) The Guidelines
			 on Hepatitis B Infected health Care Workers adopted by the State Department of
			 Health in the care, handling, and treatment of patients in the dental office or
			 other setting where dental procedures of any type may be performed.
Oklahoma Administrative Code › Title 195 - Board of Dentistry › Chapter 35 - Infection Control › Section 195:35-1-5 - Assessment and practice management of HIV and HBV infected dental health care workers

Current through Vol. 41, No. 20, July 1, 2024
(a) A
			 dental health care worker who is subject to the counsel and prescribed
			 conditions for practice of the State Department of Health Advisory Committee
			 for HIV and/or HBV Infected Health Care Workers (henceforth known as the
			 Advisory Committee), and who is allowed to continue to practice in whole or in
			 part, shall comply with all terms and conditions of the Advisory Committee's
			 determinations and conditions for practice.
(b) A dental health care worker who
			 experiences a break in a barrier technique while treating a patient is required
			 to temporarily cease treatment until the barrier technique can be fully
			 restored. If bleeding or body fluid exposure to the patient presents a
			 continued potential exposure after barrier techniques restoration, the dental
			 health care worker must cease further direct contact with or treatment of the
			 patient and shall be responsible for arranging for completion of the procedure
			 being performed on the patient.
(c)
			 Following a break in a barrier technique, a dental health care worker who
			 exposes the mucous membrane or non-intact skin of a patient to his or her blood
			 shall undergo HIV and HBV surface antigen testing and ensure that the patient
			 is notified of the exposure. The patient must be notified of the dental health
			 care worker's test results, observing the provisions of the Oklahoma Public
			 Health Code regarding confidentiality of communicable disease test
			 results.
(d) A dental health care
			 worker infected with HIV or HBV must notify the State Epidemiologist or his
			 designee when a risk exposure noted in (c) has occurred.
Added at 13 Ok Reg 2953,
				eff 7-11-96; Amended at 16 Ok Reg 2397, eff
				7-1-99
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 1 - Administrative Operations › Section 200:1-1-2 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words and terms, when used in this Chapter, shall have the following meaning, unless the context clearly indicates otherwise:
"Act"
means the Credit Enhancement Reserve Fund Act.
[74:5063.2.1.]
"Administrator"
means the directors, officers and employees of The Oklahoma Development Finance Authority, as Administrator of the Fund.
"Authority"
means the Oklahoma Development Finance Authority.
[74:5062.5.1]
"Board" means
the Board of Directors of the ODFA.
"Board of Directors"
means and includes the board of directors of the Authority created by this act (the Oklahoma Development Finance Authority Act).
[74:5062.5.3]
"Director" or "Directors"
means an individual member or members of the Board of Directors of the ODFA.
"Financing Assistance" or "financial assistance"
means the making of, entering into or providing for guarantees, leases, insurance, financing credits, loans, letters of credit, financing assistance payments, grants or other financial aid.
[74:5062.5.10]
"Fund"
means the Credit Enhancement Reserve Fund.
[74:5063.2.3]
"ODFA"
means The Oklahoma Development Finance Authority existing and operating under Title 74, Sections 5062.1 to . 22, as the successor to The Oklahoma Development Authority, a public trust organized under Title 60, Sections 176 et.seq. and a Declaration of Trust, as amended.
"ODFA Act"
means the Oklahoma Development Finance Authority Act codified at Title 74, Sections 5062.1 to .22.
"Quality Jobs Investment Program"
means the Quality Jobs Investment Program codified at Title 74, Sections 5062.8A-G, which provides legislative authorization for the ODFA to use the resources of the CERF to attract investment capital into Oklahoma.
"State"
means the State of Oklahoma or any office, department, agency, authority, commission, board, institution, hospital, college, university, public trust where the state is the beneficiary, or other instrumentality thereof.
[74:5062.5.19]
Amended at 12 Ok Reg 2173, eff 7-14-95
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 1 - General Provisions › Section 200:10-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The rules of this Chapter establish public policies, procedures and criteria for applying for and issuance of credit facility commitments by the Credit Enhancement Reserve Fund authorized by the Credit Enhancement Reserve Fund Act, Title 74, Sections 5063.1 to .20, to credit enhance the revenue bonds or other financial obligations issued by The Oklahoma Development Finance Authority pursuant to the Oklahoma Development Finance Authority Act, Title 74, Sections 5062.1 to .22.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 1 - General Provisions › Section 200:10-1-5 - Severability

Current through Vol. 41, No. 20, July 1, 2024
Each provision of the rules of this Chapter is severable. If any provision is declared invalid, the invalidity will not affect any other provisions of the rules of this Chapter.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 1 - General Provisions › Section 200:10-1-6 - Interpretation of rules

Current through Vol. 41, No. 20, July 1, 2024
The rules and procedures of this Chapter are adopted to simplify procedure, avoid delays, save expenses, and facilitate the administration of the Fund by the Administrator. To that end, the rules will be given a fair and impartial construction. The rules shall be cumulative to the Oklahoma Administrative Procedures Act found in Title 75, Section 250 et seq.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 3 - The Fund › Section 200:10-3-1 - Purpose of the Fund

Current through Vol. 41, No. 20, July 1, 2024
The Fund was created to be managed, administered and utilized by ODFA in accordance with the provisions of the Act.
(1)
Utilization of the Fund.
The Fund shall be employed by the Oklahoma Development Finance Authority solely to secure the payment of principal, interest and premium, if any, on the revenue bonds and other financial obligations issued by the Authority pursuant to the Oklahoma Development Finance Authority Act, for the specific purpose of enhancing and supporting the credit of such revenue bonds and other financial obligations
. [74:5063.4]
(2)
Other credit facility acquisition.
The Fund may also use the funds deposited from the proceeds of the General Obligation Bonds to purchase insurance or to enter into agreements with credit facilities in order to enhance the security of any holders of ODFA revenue bonds of other financial obligations
. [74:5062.12]
(3)
Expense disbursements.
Monies and other assets in the Fund may be expended for the operating expenses and costs of activities of the ODFA that are directly related to enhancing the credit of the ODFA's revenue and other financial obligations. In addition, a portion of the interest and other earnings on the Fund may be payable to an investment advisor, if any, for the Fund. [74:5063.4 (A), 74:5063.9]
(4)
Fund objective.
The objective of the Fund is to enable a participant of an ODFA financing that is a recipient of an Insurance Commitment to obtain or improve an investment grade credit rating in order to:
(A) facilitate debt capital formation throughout the State of Oklahoma;
(B) stimulate a larger flow of private investment capital to finance various Persons;
(C) increase access to capital for various Persons at better financing rates and terms; and
(D) encourage greater private financial institution lending.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 3 - The Fund › Section 200:10-3-2 - Assets of the Fund

Current through Vol. 41, No. 20, July 1, 2024
(a)
Separate funds and accounts for assets.
The monies and other assets of the Fund will be maintained and accounted for as separate funds and accounts from all other monies and assets of the Authority and shall be accounted for separately in the financial statements prepared by or for the Authority
[74:5063.5]
(b)
Corporate trustees.
The Fund will be held in the custody of one or more banks or trust companies having a principal place of business in Oklahoma pursuant to a trust agreement(s) with such institution(s)
. [74:5062.12]
(c)
Sources of assets.
Potential sources of assets for the Fund include:
(1) premiums charged for Insurance;
(2) net proceeds of the General Obligation Bonds;
(3) revenues of ODFA that are not otherwise committed or obligated for programs, operating expenses or to bonds issued by the ODFA;
(4) any gifts, grants, loans or other assets made available by the federal government, the State or any Person;
(5) interest earnings or gains from the investment of the Fund; and
(6) the proceeds of liquidation of assets, other collection efforts, or the enforcement of any secured or other rights of the Fund.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 3 - The Fund › Section 200:10-3-3 - Standards of operation of the Fund

Current through Vol. 41, No. 20, July 1, 2024
(a)
Administration.
The Authority shall administer the Fund prudently and according to good insurance practice. Such administration will minimize the loss experience of the Fund, assure the future viability of the Fund, and assure the continuing availability of the proceeds of the Bonds as a credit enhancement vehicle for bond issues in this state on an ongoing basis
. [74:5063.4(B)]
(b)
Principles of insurability.
The granting of credit enhancement by the Fund shall be based on principles of insurability generally applied in the credit enhancement/insurance industry
. [74:5063.4(B)]
(c)
Standards.
Although the principles generally applied in the credit enhancement/insurance industry will be utilized, the standards applied by the Fund in applying those principles may vary from the standards utilized by private providers of credit facilities.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 5 - Project and Program Eligibility › Section 200:10-5-1 - Distribution and equal access

Current through Vol. 41, No. 20, July 1, 2024
The Administrator will seek to ensure that a widespread geographic use is made of the Fund to provide distribution of Fund resources in the various regions of the State of Oklahoma and to provide equal access to all qualified applicant for Insurance to the end that all seventy-seven (77) counties in the State of Oklahoma have the prospect of participating in the economic activity stimulated by the Fund.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 5 - Project and Program Eligibility › Section 200:10-5-2 - Financing purposes

Current through Vol. 41, No. 20, July 1, 2024
Insurance Commitments may be issued to support the revenue bonds or other financial obligations issued by the ODFA for any of the multiple purposes for which the ODFA can provide financing assistance.
(1)
Purpose of ODFA financing.
The various purposes of financing that ODFA is authorized to do include:
(A) to expand and establish agricultural and industrial enterprises;
(B) to provide pollution control facilities;
(C) to develop public or private energy generating, distribution or conservation facilities and sources;
(D) to provide health care facilities;
(E) to provide infrastructure, waste water and capital improvement facilities;
(F) to provide educational facilities
(G) to provide recreational facilities; and
(H) to provide for short term advance funding and the purchase of the obligations of political subdivisions throughout the State of Oklahoma.
(I) to attract investment capital or make direct investments in firms which provide equity or loan funds to Oklahoma business entities.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 5 - Project and Program Eligibility › Section 200:10-5-3 - Target market for fund credit support

Current through Vol. 41, No. 20, July 1, 2024
The administrator will seek to complement the resources of private credit enhancement providers. To this end, the following categories of credit will be emphasized for Fund Insurance:
(1)
Public sector.
In the public sector, entities which are, or would be, lower investment grade credit ratings, non-investment grade credit ratings, or non-ratable credits. This category includes not for profit organizations performing charitable activities in the nature of government services; and
(2)
Private sector.
The proceeds of obligation to which credit enhancement is granted shall be used, except for unusual circumstances with exceptionally strong public benefits and for obligations approved pursuant to the Small Business Credit Enhancement Program and for obligations approved pursuant to the Quality Jobs Investment Program, for expansion capital to businesses and for improvements or additions to real or personal property for the benefit of private or nonprofit use borrowers. Use of the Fund for business buyouts or refinancing shall be minimal. The Authority shall give reasonable priority to loans in rural areas. In implementing the provisions of the Credit Enhancement Reserve Fund Act, the Authority shall generally limit the granting of credit enhancement by the Fund to high to moderate credit quality revenue bonds or other obligations of the Authority judged to be of low to moderate risk, meaning that an obligation to which credit enhancement is granted demonstrates a strong likelihood of repayment according to its terms. To the extent possible, the Fund shall be leveraged with private financial assistance for Fund-backed obligations for private or non-profit borrowers.
Amended at 10 Ok Reg 1583, eff 5-13-93; Amended at 12 Ok Reg 2177, eff 7-14-95
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 5 - Project and Program Eligibility › Section 200:10-5-4 - Fund portfolio mix

Current through Vol. 41, No. 20, July 1, 2024
(a) The Administrator will avoid concentration in any one industry or economic activity group and achieve a diverse utilization of the resources of the Fund to the end that there is a diversity of purposes for which Insurance Commitments are issued. The Administrator will issue Insurance Commitments within the insurance resources of the Fund that are for ODFA financing assistance that will not exceed the limits for the respective purposes as follows:
(1) Industrial, agribusiness and other private activity: 25% of fund resources
(2) Infrastructure, capital improvements and other public facilities including Health Care Facilities and other non-profits providing that not more than 20% of this allocation may be used for health care and other non-profit owned facilities: 75% of fund resources
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 5 - Project and Program Eligibility › Section 200:10-5-5 - Insurance Commitment size diversification

Current through Vol. 41, No. 20, July 1, 2024
Within each of the Portfolio Mix purpose categories iterated in Section 200:10-5-4, the Administrator will issue Insurance Commitments within the insurance resources of the Fund that are diversified by size limitations. To maximize use of credit enhancement resource and to assure the viability of the Fund, the Fund shall have a balanced portfolio by loan size. In the case of the industrial agribusiness, and other private activity portfolio mix category, the Fund shall strive to achieve a cumulative average loan size of less than One Million Dollars ($1,000,000.00).
Amended at 10 Ok Reg 1583, eff 5-13-93; Amended at 12 Ok Reg 2177, eff 7-14-95
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 5 - Project and Program Eligibility › Section 200:10-5-6 - Fund geographic diversification

Current through Vol. 41, No. 20, July 1, 2024
The Administrator will seek to avoid geographic concentration of Insurance Commitments and will seek to achieve diversity of geographic locations where Insurance Commitments are utilized. The Administrator will seek, but will not be required, to issue Insurance Commitments over time that constitute an equitable distribution among the nine (9) Economic Development Regions created among the various counties in the State of Oklahoma and administered by the Oklahoma Department of Commerce. However, under no circumstances shall funds generated by the use of the resources of the Credit Enhancement Reserve Fund be used to fund projects located outside of the boundaries of the state. In making such evaluation of a fair and equitable distribution of the benefits of the Fund resources, the Administrator may consider the relative opportunities for economic development among the various regions, the rate and duration of unemployment in such regions, the magnitude of the public works needs in the respective regions, alternative availability of financing resources in the respective regions, the land area of the region in which government services must be provided, the population of the respective regions and other factors. However, nothing in this Section will require the Fund to issue an Insurance Commitment for ODFA financing assistance that does not meet the credit standards and other underwriting criteria of the Fund generally applied to all applicants.
Amended at 12 Ok Reg 2177, eff 7-14-95
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 5 - Project and Program Eligibility › Section 200:10-5-7 - Proscribed activities

Current through Vol. 41, No. 20, July 1, 2024
The Fund will not undertake to provide Insurance for any of the following purposes except as set forth in this section.
(1)
Retail facilities.
The Fund will not provide Insurance to facilities that are primarily a retail activity selling goods or services to the general public entering on the premises, unless such retail facilities are functionally related and subordinate to another activity eligible for Insurance.
(2)
Commercial real estate developments.
The Fund will not provide Insurance for facilities that are primarily commercial real estate development for speculative investment purposes. As used in this paragraph, "Speculative" means a facility where less than seventy-five percent (75%) of the proposed space is subject to a lease with a term at least equal to the term of the underlying loan or subject to an agreement with a committed buyer; provided, however, the lessee(s) or buyer(s) of such space will be subject to a determination of insurability by the Credit Officer.
(3)
Wholesale facilities.
The Fund will not provide Insurance to facilities that are primarily a wholesale activity selling goods or services to the general public entering on the premises, or selling goods or services to retail establishments, unless such wholesale facilities are functionally related and subordinate to another purpose eligible for Insurance. This proscription will not apply to a Distribution Center Facility.
(4)
Medical clinics and professional office space.
The Fund will not provide Insurance for medical clinics or professional office space unless it is demonstrated by sufficient evidence that the subject community would be deprived of essential professional services without such Insurance support.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 5 - Project and Program Eligibility › Section 200:10-5-8 - Program guidelines

Current through Vol. 41, No. 20, July 1, 2024
The Board reserves the right to initiate and develop guidelines which are not inconsistent with the rules of this Chapter, regarding participation in any specific ODFA financing assistance Program which may utilize Insurance Commitments of the Fund.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 7 - Insurance Commitment Amounts, Premiums and Security › Section 200:10-7-1 - Insurance Commitment amounts

Current through Vol. 41, No. 20, July 1, 2024
The Fund will seek to assist as many Persons as practicably possible to achieve geographic diversity of commitments and the broadest distribution of benefits throughout the State of Oklahoma.
(1)
Maximum Insurance Commitment amount for Public Section Projects.
The maximum amount of an Insurance Commitment for any one Project or Program participant will be $5,000,000.
(2)
Maximum Insurance Commitment amount for Private Sector Projects.
The original principal amount of an Insurance Commitment shall not exceed Two Million Five Hundred Thousand dollars ($2,500,000.00).
(3)
Minimum Insurance Commitment amount.
The minimum amount of an Insurance Commitment for any one Project or Program participant using Revenue Bonds will be $200,000 the actual insurance commitment may be smaller when used in guaranteeing an obligation authorized under the Small Business Credit Enhancement Program.
Amended at 10 Ok Reg 1583, eff 5-13-93; Amended at 12 Ok Reg 2177, eff 7-14-95
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 7 - Insurance Commitment Amounts, Premiums and Security › Section 200:10-7-2 - Premiums

Current through Vol. 41, No. 20, July 1, 2024
The Fund will charge a monetary premium to the ODFA for the utilization of the benefits provided by the Insurance and the risk assumed by the Fund. The ODFA will pass this cost through to the users of the proceeds of its revenue bonds or other financial obligations.
(1)
Factors considered in determining premium.
The amount of the premium charged by the Fund will vary according to various factors involved including:
(A) The perceived relative risk category of various purposes or types of ODFA financings based upon the relative risk categories used in the private credit enhancement industry.
(B) The credit evaluation performed by the Credit Officer in connection with the Insurance Commitment.
(C) The secured collateral position of the Insurance Commitment.
(D) The perceived relative risk of the industry in which a private sector Person conducts its operations.
(E) Whether the Credit Officer qualitatively judges the risk to be low, moderate, or high compared to other similar Insurance Commitments.
(F) The length of time that an Insurance Commitment will be outstanding.
(G) The perceived exposure of the Fund considering whether the Insurance is pro-rata, leveraged, or co- insured.
(H) Such other factors, whether quantitative or qualitative, that the Credit Officer or the Board deem relevant.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 7 - Insurance Commitment Amounts, Premiums and Security › Section 200:10-7-3 - Debt service reserve

Current through Vol. 41, No. 20, July 1, 2024
As a condition to the issuance of an Insurance Commitment, the Administrator may compel any private sector applicant and any enterprise revenue public sector applicant to fund and maintain a reasonably required debt service reserve in connection with any revenue bond or other financial obligation issued by the ODFA for such applicant. This reserve will be invested only in cash or cash equivalents or in Eligible Investment Securities and will constitute additional security to assure the prompt payment of principal, interest and other obligations of the borrower. The funding of the reasonably required debt service reserve may be paid from the proceeds of the applicant's borrowing.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 7 - Insurance Commitment Amounts, Premiums and Security › Section 200:10-7-4 - Commitment to be secured

Current through Vol. 41, No. 20, July 1, 2024
The Administrator will require such security from the applicant as it deems necessary in the circumstances of the Insurance Commitment.
(1) Except for a public sector entity or an obligation approved in connection with the Small Business Credit Enhancement Program or the Quality Jobs Investment Program, such security will include, but not be limited to:
(A) a first mortgage or coordinate first mortgage on real property, facilities or systems and fixtures located thereon; or
(B) a second mortgage on real property, facilities or systems and fixtures located thereon, provided the amount thereof may not exceed $1,000,000.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 7 - Insurance Commitment Amounts, Premiums and Security › Section 200:10-7-5 - Insurance to value

Current through Vol. 41, No. 20, July 1, 2024
The amount of the Insurance commitment will be determined by the credit evaluation, by the exposure of the Fund and by specific program guidelines as may be developed pursuant to 200:10-5-8. In no event will the maximum amount of the Insurance Commitment exceed the limits set forth in this Section except for obligations exempted under the Quality Jobs Investment Program.
(1)
Private sector.
The maximum amount of the Insurance Commitment in enhancing private sector financing or refinancing of facilities will be limited as set forth in this Section.
(A)
Real property.
For costs of financing or refinancing real property, including soft costs associated with the construction or development of the facilities and the Insurance premium, the amount of the Insurance Commitment will not exceed ninety percent (90%) of the lower of:
(i) the actual certified and documented costs of such Project; or,
(ii) the appraised (as built) fair market value of the real property as indicated in an independent appraisal by an MAI appraiser or such other independent appraiser as is acceptable to the Administrator.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 7 - Insurance Commitment Amounts, Premiums and Security › Section 200:10-7-6 - Amortization of underlying financing

Current through Vol. 41, No. 20, July 1, 2024
The principal amount of the underlying financing for which the applicant seeks Insurance will be amortized on a repayment schedule calculated on a straight line or a more accelerated basis (unless an unfunded depreciation account is created) over a period not to exceed the estimated useful life of the asset being financed except for obligations approved in accordance with statutes authorizing the Quality Jobs Investment Program, but in any event not to exceed twenty-five (25) years for real property and not to exceed fifteen (15) years for personal property, although the underlying financing may mature at an earlier date.
Amended at 12 Ok Reg 2177, eff 7-14-95
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 9 - Insurance Application Procedure › Section 200:10-9-1 - Application

Current through Vol. 41, No. 20, July 1, 2024
Each Application For Insurance (the "Application") must be made on the form prescribed by the Administration. Each Application form must be signed by an authorized officer of the Person that is making the Application For Insurance.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 9 - Insurance Application Procedure › Section 200:10-9-2 - Application information package

Current through Vol. 41, No. 20, July 1, 2024
To be eligible for consideration each Application must be completely filled out with the information requested on the form. The Application package will include:
(1) A completed "Application For Financing" form of the ODFA, including all the related attachments thereto and the most recent interim financial statements, together with comparative statements for the same period in the previous fiscal year.
(2) If the Application is for a private sector financing for a closely held Person, the federal (information) income tax returns for such Person for the most recent three (3) prior fiscal years as filed with the Internal Revenue Service.
(3) A cash flow forecast, including pro-forma balance sheets and income statements, together with the related assumptions expressed in writing, showing the forecasted revenues and expenses of the Person, including the new debt to be financed by the financing assistance underlying the Insurance Commitment, for a period of up to five (5) years at the Administrator's discretion.
(4) Demonstration of the past experience and managerial ability of the Person applying for Insurance.
(5) The appraisal or certified cost information required in 200:10-7-5.
(6) If the Project involves construction, the plans and specifications prepared for the construction of the Project and a detailed line item cost budget for the Project.
(7) Personal financial statements of the owner(s) of the business.
(8) The Administrator will require completion of an environmental questionnaire to assess potential environmental risk hazards and may require environmental site assessments.
(9) Such other information as the Administrator reasonably requires in relation to the Insurance Commitment.
(10) A non refundable application fee in the amount that as is currently in effect.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 9 - Insurance Application Procedure › Section 200:10-9-3 - Submission of application

Current through Vol. 41, No. 20, July 1, 2024
(a) Each completed Application must be submitted to the Administrator at its official office in Oklahoma City. The Administrator is authorized to reject any Application that is not complete or does not conform with the statutory requirements for an eligible project or which does not comply with this Chapter.
(b) All Applications, including the required attachments, should be in seven (7) copies and must be submitted to the ODFA office at least thirty (30) days prior to a Board meeting in order to be considered as such meeting. The applicant may be required to submit additional copies of the Application package for transmission to the Board.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 9 - Insurance Application Procedure › Section 200:10-9-4 - Written report and recommendation by credit officer

Current through Vol. 41, No. 20, July 1, 2024
The Credit Officer must prepare a credit evaluation and written credit report on the applicant and its Project, together with the Credit Officer's action recommendation thereon. The credit evaluation and report will be submitted to the Board.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 11 - General Approval Standards and Criteria › Section 200:10-11-1 - Approval by ODFA Board Of Directors

Current through Vol. 41, No. 20, July 1, 2024
Prior to the issuance of an Insurance Commitment, the Board must approve such issuance by a resolution which authorizes its officers to execute and deliver the Insurance Commitment to the respective applicant.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 11 - General Approval Standards and Criteria › Section 200:10-11-3 - Criteria applicability; review on individual merits

Current through Vol. 41, No. 20, July 1, 2024
The general criteria set forth in 200:10-11-2 are intended to constitute general guidelines and standards for application review and consideration by the Board. The criteria will not be deemed appropriate for strict application and interpretation nor will the criteria be deemed exclusive. In all instances, each individual application must be reviewed and considered on its own individual merits. Accordingly, the criteria and standards set forth in 200:10-11-2 will be interpreted and applied to allow sufficient flexibility in the ultimate exercise of the Board's judgement and discretion. No formal finding or decision by the Board, written or oral, is required with respect to its consideration of the criteria iterated in Section 200:10-11-2.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 11 - General Approval Standards and Criteria › Section 200:10-11-4 - Issuance of Insurance Commitment; rejection of application

Current through Vol. 41, No. 20, July 1, 2024
(a) After approval by the Board of an application for Insurance, a Commitment will be issued setting forth the terms and conditions upon which ODFA financing assistance will be insured, including special requirements applicable to the project and requiring the submission in final form within a time specified of all appropriate documents, drawings, plans, specifications, appraisals, bonds, guarantees, permits, approvals, surveys, title insurance, opinions, financial statements, cost and other certifications and other instruments evidencing full compliance with requirements in form and content satisfactory to the Administrator.
(b) If such use of Insurance has not been approved by the Bond Oversight Commissions, the Commitment will be conditioned on the granting of such approvals.
(c) A Commitment shall be effective for a stated period. A Commitment may be renewed in the manner stated in the Commitment.
(d) If, upon examination of the application and supporting information, the Board rejects such application, the applicant will be so informed.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 11 - General Approval Standards and Criteria › Section 200:10-11-5 - Approval by Oversight Commissions

Current through Vol. 41, No. 20, July 1, 2024
Prior to the issuance, execution and delivery of Insurance by the Board, the Oversight Commissions must also approve any bonds or indebtedness being issued by the ODFA to the extent the bonds or indebtedness are enhanced or supported by the Fund pursuant to the Act except for obligations exempted under the Quality Jobs Investment Program. [62:695.9 and 74:5063.4(F)]
Amended at 12 Ok Reg 2177, eff 7-14-95
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 13 - Hearing Procedures › Section 200:10-13-1 - Hearing notice

Current through Vol. 41, No. 20, July 1, 2024
In the event it is determined to hold a hearing on an Insurance Application or on any other matter pertaining to the Fund, prior notice will be given which will include the time, place, and subject of the hearing. Notice of the hearing may be given by United States mail addressed to the address indicated on the Application, postage prepaid, or telephonically at the phone number provided to the Administrator in the Application. Service of notice will be complete upon accomplishment of actual notice, upon a receipt of the return receipt card showing receipt of certified mail by the addressee, or upon the posting of notice or first publication thereof, as the case may be.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 13 - Hearing Procedures › Section 200:10-13-2 - Conduct of hearing

Current through Vol. 41, No. 20, July 1, 2024
If any hearing is conducted before the full Board, the Chairman or Vice-Chairman of the Board will preside over the hearing. A hearing may be part of a scheduled meeting of the Board. A party to a hearing will be given sufficient opportunity to make a presentation and present exhibits and other support data to the Board. The Board or its officers or counsel may ask questions of any party to the proceedings.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 13 - Hearing Procedures › Section 200:10-13-3 - Hearing Officers

Current through Vol. 41, No. 20, July 1, 2024
The Chairman of the Board is hereby authorized to appoint any Director or any officer of the ODFA as a Hearing Officer for the purpose of conducting a hearing. A Hearing Officer so appointed will hear testimony and receive evidence. The Hearing Officer must then make a recommendation to the Board stating the reasons for the recommendation and the facts supporting the recommendation. The Board may then consider the findings of the Hearing Officer and may render its decision. The President, with consultation of a Director appointed as a Hearing Officer, or the Chairman of the Board, will schedule such hearings and insure that the applicants receive proper notice of the hearing. Continuances of such hearings may be granted upon showing of good cause.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 13 - Hearing Procedures › Section 200:10-13-4 - Record of hearing

Current through Vol. 41, No. 20, July 1, 2024
A record of hearing, by means of tape recording or shorthand notes, will be made of any hearings unless the party to a hearing notifies the Board or Hearing Officer prior to the hearing that it wishes a court reporter to transcribe the hearing at such party's expense. A transcript of the proceedings will not be transcribed except upon written application by any party to the action. The party requesting transcription will bear the cost and will pay a fee according to a schedule established by the Administrator. An initial deposit set by the Administrator also must be paid by the party requesting a transcript. The record of a hearing and the file containing the proceedings will be maintained in a place designated by the Administrator. The tape recordings of the proceedings shall be maintained for a period on one (1) year. All minutes of any hearing in individual proceedings will be in writing. The minutes will include any actions taken by the Board showing the record of their individual votes cast.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 15 - Miscellaneous Provisions › Section 200:10-15-1 - Inspection of works, books, and records

Current through Vol. 41, No. 20, July 1, 2024
From the time of first application, throughout all stages of construction, acquisition or Program implementation, or at any other time while any assistance from the Fund to the applicant is outstanding, the Administrator will have the right to inspect any and all projects, and any and all incidental works, areas, facilities and premises otherwise pertaining to the Project or Program for which application is made or the instruments, documents or information possessed by the applicant or its contractors, agents, employees or representatives which relate in any respect to the receipt, deposit and/or expenditure of funds. By making application for Insurance, all Applicants will be deemed to consent and agree to the right of reasonable inspection provided in this Section and all applicants must allow the Administrator all necessary and reasonable access and opportunity for such purposes.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 15 - Miscellaneous Provisions › Section 200:10-15-2 - Project modifications

Current through Vol. 41, No. 20, July 1, 2024
After an application for Insurance has been approved, no change, modification, amendments, or departure otherwise to or from the approved plans and specifications which would materially or significantly affect total project cost or value, estimated revenues, or design will be made, allowed or authorized without the prior written approval of the Administrator.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 15 - Miscellaneous Provisions › Section 200:10-15-3 - Fees related to insurance application and issuance

Current through Vol. 41, No. 20, July 1, 2024
The Administrator will establish a non refundable fee for an Application for an Insurance Commitment. If an Insurance Commitment is granted, a premium will be charged for the issuance of Insurance in the manner set forth in 200:10-7-2. In addition, applicant may be required to pay for closing fees and expenses related to the issuance of Insurance, as established by the Administrator.
Oklahoma Administrative Code › Title 200 - Oklahoma Development Finance Authority › Chapter 10 - Administration of Credit Enhancement Reserve Fund › Subchapter 15 - Miscellaneous Provisions › Section 200:10-15-4 - Project completion, inspection and audit

Current through Vol. 41, No. 20, July 1, 2024
Upon completion of any Project for which Insurance has been provided, the applicant will furnish the Administrator written notification of completion. Upon receipt of such notification, or upon Project completion should notification not be furnished as required herein, the Administrator may conduct a final on-site inspection of the Project and an audit of any and all funds furnished to the applicant which are the subject of the Insurance Commitment.