901:3-63-18 Determination of loan approval by director of agriculture.

(A) Within five working days of receipt of the AFC’s recommendations upon a loan application pursuant to the requirements of rule 901:3-63-17 of the Administrative Code, the director shall make a final determination to approve or not to approve the loan application.

(B) In making his final determination to approve or not to approve a loan application, the director shall take all of the following into consideration:

(1) Completed ODA form AFC LR1 returned by the AFC;

(2) The overall contents of the loan application complete file unit;

(3) All criteria for reviewing, evaluating, and ranking a loan applications set forth in rule 901:3-63-11 of the Administrative Code.

(4) Lending institution and DOD recommendations related to the loan application;

(5) The availability of funds in the family farm loan fund at the time the application is under consideration by the director;

(6) Any relevant information received by the director following review and return of the loan application by the AFC; and

(7) Any other information determined by the director to bear upon the loan application itself, the conformance of the loan application to the overall intent of the FFLP, and/or the impact of approval of the loan application upon the security and integrity of the family farm loan fund.

(C) The director shall record his determination to approve or not to approve the loan application on form ODA DRD1 and shall place the original and two copies of said form in the loan application’s complete file unit.

(D) Within three working days of the date of his determination to approve or not to approve an FFLP loan application, the director shall send copies of his completed form ODA DRD1 to the loan applicant, the chairperson of the AFC, DOD, and the appropriate lending institution. Such copies of form ODA DRD1 shall be accompanied by the director’s statement informing recipients of form ODA DRD1 that approved loan applications will be forwarded to the controlling board for its review and decision whether to approve the release of money for financial assistance to the loan applicant, and that release of funds from the family farm loan fund for purposes of the FFLP guaranteed portion of the loan application is contingent upon the approval of the release of money from the family farm loan fund by the controlling board.

HISTORY: Eff 8-7-98

Rule promulgated under: RC Chapter 119.

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

Rule amplifies: RC 122.011, 901.81, 901.82, 901.83

R.C. 119.032 REVIEW DATE: 07-29-2003