§371. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1987, c. 817, §2 (NEW).] 1. Board. “Board” means the Kim Wallace Adaptive Equipment Loan Program Fund Board. [PL 1999, c. 731, Pt. FF, §3 (AMD).] 2. Fund. “Fund” means the Kim Wallace […]
§372. Fund established 1. Creation of fund. There is established the Kim Wallace Adaptive Equipment Loan Program Fund, which must be used to provide funding for loans to qualified borrowers within the State in order to acquire adaptive equipment designed to assist the borrower in becoming independent and for other purposes as allowed under section […]
§373. Board 1. Establishment; membership. There is established the Kim Wallace Adaptive Equipment Loan Program Fund Board that consists of 9 members as follows: the Director of the Bureau of Rehabilitation Services or the director’s designee; the Treasurer of State or the Treasurer of State’s designee; an experienced consumer lender; a certified public accountant; and […]
§374. Duties of board The board has the following powers and duties. [PL 2015, c. 412, §2 (AMD).] 1. Receipt of money and property. The board may accept and receive gifts, grants, bequests or devises from any source, including funds from the Federal Government or any of its political subdivisions. [PL 1987, c. […]
§375. Loans 1. Demonstration of purpose of loan. The board may enter into loan agreements with any qualifying borrower and exercise all powers of a lender or creditor. Loan security may include the acquisition, use, management, improvement or disposition of any interest in, or type of, real or personal property, including grant, purchase, sale, borrow, […]
§376. Purposes for which loans may be awarded The board or an entity with which the board has contracted to provide financial services pursuant to section 374, subsection 2 may award loans to qualifying borrowers for the following purposes: [PL 2015, c. 412, §3 (AMD).] 1. Individual independence. To assist one or more persons […]
§377. Loans for transportation assistance program The board or an entity with which the board has contracted to provide financial services pursuant to section 374, subsection 2 may award loans for the purpose of assisting persons with disabilities to purchase used vehicles necessary to obtain or retain employment or employment training, subject to the following […]
