LD 1668, Page 2 - 119th Legislature, FIRST REGULAR Session

The community action agency may issue loans from the fund for the

purchase of used vehicles that meet the standards under section

3833, subsection 1, paragraph E__and for repair and maintenance of

vehicles at facilities certified under section 3833, subsection 1,

paragraph F.__A contract with a community action agency may be

renewed upon a showing of continued compliance with all

requirements. A participating community action agency must accept

applications from eligible participants, regardless of whether an

applicant resides in the region normally served by that agency,

unless the applicant resides in a region served by another

participating agency.__The commissioner may enter into a contract

with a community action agency upon a showing by the agency that it

complies with each of the following requirements.

A.__The agency must demonstrate its capacity to originate
prudent loans and to service those loans through:

(1)__The ability to solicit and screen potential
applicants, provide necessary technical assistance to
help an applicant prepare an application and determine
the viability of the application;

(2)__The ability to properly document each loan
transaction, including the perfection of the interest
of the agency in all collateral;

(3)__The ability to access appropriate legal guidance
to ensure adherence to all applicable laws concerning
lending, loan administration and collection;

(4)__The ability to accurately account for all loan
repayments;

(5)__The ability to pursue collection actions;

(6)__The ability to invest and administer the fund; and

(7)__Such other criteria as the commissioner determines
necessary to ensure the efficient administration of the
program.

B.__The community action agency must agree to follow each of
the following mechanisms for loan review and approval.

(1)__The community action agency must designate a
coordinator who is responsible for the program in that
region.

(2)__The board of directors of the community action agency must
appoint a Drive ME Wheels-to-work review

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