Current through Vol. 24-22, December 15, 2024
Section R. 324.14507 - Small business loan recipient responsibilitiesRule 7.
(1) In addition to any financial provisions required by the lending institution, within 90 days of the project eligibility determination, the small business loan recipient shall enter into a supplemental agreement with the department.(2) A supplemental agreement shall provide for all of the following: (a) Initiate work on the pollution prevention project within 180 days of signing the loan documents or supplemental agreement.(b) Secure qualified personnel or contractors, or both, to complete the pollution prevention activities specified in the loan application.(c) Notify the department in writing within 30 days of project completion.(d) Within 90 days of project completion, submit to the department a final report upon project completion describing the pollution prevention benefits attained, including a demonstration of the expected reduction in environmental waste, water, or energy usage.(e) Obtain written department approval of any amendments to the proposed project, before making the change.(f) Maintain project records and documentation under generally accepted accounting principles and practices for a minimum of 3 years after the project is completed.(g) Maintain all of the following documentation at the loan recipient's business: (1) Copies of invoices and evidence of payment of invoiced expenditures. (ii) Information pertinent to the project implementation as agreed to in the loan application.(iii) Evidence that the project was implemented in compliance with applicable rules and regulations.(h) Upon completion, operate the project for pollution prevention purposes and in accordance with applicable environmental laws and regulations.(3) Upon reasonable notice, the department or its duly authorized representatives shall have access to examine the pollution prevention project and the records or documents maintained by the small business under these rules.Mich. Admin. Code R. 324.14507
1998-2000 AACS; 2013 AACS