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Kentucky Revised Statutes Title XII. Conservation and State Development § 154.20-586.Eligible companies; requirements

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) The eligible company shall:

(a) Apply for all other available assistance that is not a commercial loan, including disaster relief assistance and insurance proceeds;

(b) Notify the qualified lenders immediately upon application of other assistance; and

(c) Provide an update on the status of that assistance when requested by the qualified lenders.

(2) The eligible company may assign any other available assistance to the qualified lender.

(3) The qualified lender shall use the other available assistance to first pay any fees or other amounts outstanding to reduce the principal balance of the commercial loan.

(4) The eligible company may apply for other programs administered by the Cabinet for Economic Development for which it meets the relevant program specific eligibility.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XII. Conservation and State Development § 154.20-586.Eligible companies; requirements - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xii-conservation-and-state-development/ky-rev-st-sect-154-20-586/

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