Maine § 10 §1100-KK Loan guarantee

Maine Statutes

§ 10 §1100-KK — Loan guarantee

Maine § 10 §1100-KK

Title 10COMMERCE AND TRADE

Part 2BUILDING AND DEVELOPMENT

Ch. 110FINANCE AUTHORITY OF MAINE

This text of Maine § 10 §1100-KK (Loan guarantee) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 10, § 10 §1100-KK (2026).

Text

1.Claims. No sooner than the 180th day following the end of the grace period and no later than the 300th day following the end of the grace period, an eligible financial institution that has made a good faith effort to collect the outstanding principal of a loan issued pursuant to section 1100‑JJ and has been unsuccessful may make a claim to the authority for recovery of an amount equal to the outstanding principal of that loan.

2.Loan guarantee payment. The authority, upon receipt of a properly documented claim submitted by an eligible financial institution pursuant to subsection 1, shall submit the claim immediately to the Treasurer of State for payment. The Treasurer of State immediately shall pay to the authority from the Government Shutdown Loan Guarantee Program Fund, established i

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1.
Claims.
No sooner than the 180th day following the end of the grace period and no later than the 300th day following the end of the grace period, an eligible financial institution that has made a good faith effort to collect the outstanding principal of a loan issued pursuant to section 1100‑JJ and has been unsuccessful may make a claim to the authority for recovery of an amount equal to the outstanding principal of that loan.
2.
Loan guarantee payment.
The authority, upon receipt of a properly documented claim submitted by an eligible financial institution pursuant to subsection 1, shall submit the claim immediately to the Treasurer of State for payment. The Treasurer of State immediately shall pay to the authority from the Government Shutdown Loan Guarantee Program Fund, established in Title 5, section 160, any claims submitted by the authority pursuant to the program. The authority shall distribute the loan guarantee payment to the eligible financial institution.
3.
Effect of payment of claim.
After payment of a loan guarantee payment to an eligible financial institution pursuant to subsection 2: