901:3-63-16 Administration of family farm loan program.

(A) Upon receiving an application for financial assistance under the FFLP from the DOD, the director shall create and maintain a complete file unit for each application received and shall process each such application by:

(1) Designating and maintaining a central location for keeping and filing all such applications;

(2) Assuring that each application file is complete and contains all documents and forms required for processing by the AFC and the making of a determination for or against a loan application by the director;

(3) Maintaining the application file unit in such a manner as to assure ease of access to, and updating of, files for purposes of review of applications by the AFC and determinations made upon applications by the director; and

(4) Forwarding applications to the AFC in a timely manner pursuant to the requirements of rule 901:3-63-17 of the Administrative Code, so as to assure the quickest possible review of loan applications by the AFC.

(B) The director shall establish and maintain a family farm loan program loan application docket and shall record upon the docket all information, forms and documents received and sent for each loan application, and all actions taken upon each loan application, and the relevant dates thereof. A separate docket sheet shall be maintained for each loan application. Each docket sheet shall contain at the top of the sheet the name of the loan applicant, the ODA loan application number, and any other information deemed useful or appropriate by the director.

(C) To facilitate the processing of loan applications under the FFLP, the director may designate or appoint any ODA employees, or may request the services of and direct any appropriate personnel within the Ohio department of development, for purposes of such processing.

(D) The director shall execute a letter of commitment with each lending institution which desires to participate in the FFLP for purposes of making FFLP loans to applicants. The letter of commitment shall be executed on ODA form ODA LOC1.

(E) The director shall establish and maintain a list of lending institutions which are eligible to participate in the FFLP. The list shall contain the following information:

(1) All known eligible institutions within the state of Ohio;

(2) Names of all institutions which have expressed an interest in participating in the FFLP;

(3) Names of all institutions which in fact have participated or are participating in the FFLP;

(4) For each institution listed pursuant to paragraph (E)(3) of this rule, the current total of all funds guaranteed to that institution from the family farm loan fund maintained by the treasurer of the state of Ohio.

(5) Each institution for which the total amount of loan guarantees provided to the institution has reached five hundred thousand dollars.

(F) The OFI shall provide all information and assistance necessary to assist the director in the maintenance of the list required under rule 901:3-63-16 of the Administrative Code.

HISTORY: Eff 8-7-98

Rule promulgated under: RC Chapter 119.

Rule authorized by: RC 901.82(A)(8)

Rule amplifies: RC 901.63, 901.80, 901.81, 901.82, 901.83

R.C. 119.032 Review Date: 07-29-2003