§ 129051. — 129051. (Amended by Stats. 2021, Ch. 143, Sec. 234.)

California § 129051.

• Jurisdiction: California
• Code HSC: Health and Safety Code - HSC
• Div. 107.: DIVISION 107. HEALTH CARE ACCESS AND INFORMATION
• Part 6.: PART 6. FACILITIES LOAN INSURANCE AND FINANCING
• Ch. 1.: CHAPTER 1. Health Facility Construction Loan Insurance
• Art. 2.: ARTICLE 2. Insurable Loans and Applications Therefor

Text

(a)
The department shall develop and implement a system for assessing the relative financial risk of the applicant. The system shall include, but is not limited to, an assessment of the applicant’s financial strength, credit history, security for the loan, cash-flow, and ability to repay the debt.
(b)
The department shall establish a maximum acceptable level of financial risk for the projects it insures. The department may only approve a project if its risk level is below the established maximum, except as provided in subdivision (c).
(c)
The department may approve a project with a level
of
insurance risk that exceeds the established maximum if the department determines that the project meets a significant community need or will be a sole community provider.

Legislative History

Amended by Stats. 2021, Ch. 143, Sec. 234. (AB 133) Effective July 27, 2021.