Maine § 10 §377 Loans for transportation assistance program

Maine Statutes

§ 10 §377 — Loans for transportation assistance program

Maine·Title 10 COMMERCE AND TRADE·Part 1 GENERAL PROVISIONS·Ch. 11 KIM WALLACE ADAPTIVE EQUIPMENT LOAN PROGRAM

The board or an entity with which the board has contracted to provide financial services pursuant to section 374, subsection 2 may award loans for the purpose of assisting persons with disabilities to purchase used vehicles necessary to obtain or retain employment or employment training, subject to the following limitations.

1.Qualifications of borrower. A loan may be made under this section only to a qualifying borrower who meets the other requirements of this chapter and who demonstrates a need for a vehicle as part of an individualized plan toward employment developed with a state or community-based organization that provides employment services to persons with disabilities and that is approved by the board.

2.Limitation on loan amount.

3.Aggregate amount of loans. The maximum aggreg

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The board or an entity with which the board has contracted to provide financial services pursuant to section 374, subsection 2 may award loans for the purpose of assisting persons with disabilities to purchase used vehicles necessary to obtain or retain employment or employment training, subject to the following limitations.
1.
Qualifications of borrower.
A loan may be made under this section only to a qualifying borrower who meets the other requirements of this chapter and who demonstrates a need for a vehicle as part of an individualized plan toward employment developed with a state or community-based organization that provides employment services to persons with disabilities and that is approved by the board.
2.
Limitation on loan amount.
3.
Aggregate amount of loans.
The maximum aggregate amount of loans issued under this section may not exceed 7% of the value of program gross notes receivable.
4.
Repeal.

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