Text: H09239                            Text: H09241
Text: H09200 - H09299                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

House Amendment 9240

Amendment Text

PAG LIN
  1  1    Amend Senate File 2415, as amended, passed, and
  1  2 reprinted by the Senate, as follows:
  1  3    #1.  Page 16, by inserting after line 9, the
  1  4 following:
  1  5    "__.  A corporation shall take all reasonable steps
  1  6 to ensure the safety and soundness of all financial
  1  7 assistance provided to an eligible person under this
  1  8 section, which shall include any necessary conditions
  1  9 incorporated in the agreement executed by the eligible
  1 10 person and the corporation.  The conditions shall at
  1 11 least include all of the following:
  1 12    a.  The eligible person must periodically deliver
  1 13 to the corporation information updating the financial
  1 14 status of the corporation, including an accounting of
  1 15 financing provided to the eligible person by the
  1 16 corporation.
  1 17    b.  The corporation reserves the right to change or
  1 18 adjust the terms of financing, including a right to
  1 19 demand immediate repayment of a loan, if the
  1 20 corporation determines that the financial condition of
  1 21 the eligible person has changed or deteriorated to the
  1 22 point that a security interest held by the corporation
  1 23 is jeopardized or that the repayment of a loan in
  1 24 accordance with the terms of the agreement is in
  1 25 jeopardy.
  1 26    c.  The corporation must demand the immediate
  1 27 repayment of financing provided to the eligible person
  1 28 by the corporation, if the eligible person is in
  1 29 violation of any substantive provision of this
  1 30 division or the agreement." 
  1 31 
  1 32 
  1 33                               
  1 34 HOLVECK of Polk 
  1 35 
  1 36 
  1 37                               
  1 38 KOENIGS of Mitchell 
  1 39 
  1 40 
  1 41                               
  1 42 CHURCHILL of Polk 
  1 43 SF 2415.515 77
  1 44 da/jw/28
     

Text: H09239                            Text: H09241
Text: H09200 - H09299                   Text: H Index
Bills and Amendments: General Index     Bill History: General Index

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