877—17.30(260F) Events of default.
	17.30(1) A business or apprenticeship sponsor fails to complete the training project within the agreed period of time as specified in the training agreement. Such business or apprenticeship sponsor shall be required to repay 20 percent of total project funds expended by the community college and the business.
	17.30(2) A business or apprenticeship sponsor fails to train the agreed number of employees as specified in the training agreement. Such business or apprenticeship sponsor shall be required to repay a proportionate amount of total project funds expended by the community college and the business or apprenticeship sponsor. The proportion shall be based on the number of employees not trained compared to the number of employees to have been trained.
	17.30(3) If both 7.30(1) and 7.30(2) occur, both penalties shall apply.
	17.30(4) A business or apprenticeship sponsor fails to comply with any requirements contained in the training agreement. The business or apprenticeship sponsor shall be sent written notice by the community college which specifies the issue(s) of noncompliance and shall be allowed 20 days from the date notice is sent to effect a cure. If noncompliance is of such a nature that a cure cannot be reasonably accomplished within 20 days, the community college has the discretion to extend the period of cure to a maximum of 60 days.
	17.30(5) A business or apprenticeship sponsor ceases or announces the cessation of operations at the project site prior to completion of the training program.
	17.30(6) A business or apprenticeship sponsor directly or indirectly makes any false or misleading representations or warranties in the program application or training agreement, reports, or any other documents which are provided to the community college or the authority.
	17.30(7) A business or apprenticeship sponsor acts in any manner contrary to, or fails to act in accordance with, any provision of the training contract.
	17.30(8) A business takes corporate action to effect any of the preceding conditions of default.
[ARC 3463C, IAB 11/22/17, effective 12/27/17; Editorial change: IAC Supplement 10/18/23]