Section 17939.5 - Loan Sale(a) The Board may sell loans, either in bulk quantity or individually; in whole or in part; on a recourse or non-recourse basis; on an advance commitment, forward, or participation basis; and may retain or relinquish the servicing rights;(b) the Board shall not sell its loans if the loan sale results in more than a twenty-five percent (25%) discount of the principal amount, excluding any expenses or reserves required as a condition of the loan sale; and(c) all proceeds received from the sale of loans shall be deposited into the Recycling Market Development Revolving Loan Program Subaccount.Cal. Code Regs. Tit. 14, § 17939.5
1. New section filed 10-18-2005; operative 11-17-2005 (Register 2005, No. 42). Note: Authority cited: Section 40502, Public Resources Code. Reference: Section 40506.1, Public Resources Code.
1. New section filed 10-18-2005; operative 11-17-2005 (Register 2005, No. 42).