Section 17a-647-8 - Default(a) A loan shall be in default if a payment is more than one month overdue.(b) If a loan is, or has been in default, the executive director may request, at his option, immediate repayment of the outstanding loan balance, or receive payment for the past due amount and require the sponsoring organization to submit a monthly financial report of the group home to the executive director.(c) In the event that the group home fails to succeed, the state may forgive the outstanding loan balance if, in its determination, the sponsoring organization has provided a good faith effort to ensure the success of the home.(d) The sponsoring organization shall address any request for loan forgiveness to the executive director. The executive director shall conduct an investigation and make a recommendation on the request to the commission. If the commission approves the request, it shall forward its recommendation to the Attorney General, pursuant to Section 3-7(a) of the Connecticut General Statutes.Conn. Agencies Regs. § 17a-647-8
Effective September 27, 1990