LD 1267
pg. 2
Page 1 of 3 An Act To Extend the Kim Wallace Adaptive Equipment Loan Program Page 3 of 3
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LR 1629
Item 1

 
Sec. 4. 10 MRSA §374, sub-§4, ¶D is enacted to read:

 
D.__Loan applications may be approved or denied by the board
only at a regular or special meeting except as follows:

 
(1)__Approval of applications for loans may be
delegated by the board to a subcommittee of the board
containing at least 5 members if an applicant would
suffer undue hardship by waiting for the next regular
meeting; or

 
(2)__Approval of applications for loans may be
delegated to outside contractors with criteria and
terms as provided by the board and approved no less
than annually.

 
All approved loans must be ratified by the board at the
board's next regular or special meeting.__All loans
recommended for denial by the delegated authority must be
acted upon by the board at the board's next regular or
special meeting.

 
Sec. 5. 10 MRSA §375, sub-§1, as enacted by PL 1987, c. 817, §2, is
amended to read:

 
1. Demonstration of purpose of loan. The board may enter
into loan agreements with any qualifying borrower, who 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, loan, lease,
foreclosure, mortgage, assignment or other lawful means, with or
without public bidding and also including the assessment of fees,
the forgiveness of indebtedness, the receipt of reimbursements
for expenses incurred in carrying out its purposes and the
expenditure or investment of its funds.__The borrower must
demonstrate that:

 
A. The loan will assist one or more persons with
disabilities to improve their independence or become more
productive members of the community; and

 
B. The applicant has the ability to repay the loan.

 
Sec. 6. 10 MRSA §376, sub-§3, as enacted by PL 2003, c. 99, §2, is
amended to read:

 
3. Transportation assistance. For the purpose set forth in
section 377, subject to the limitations set forth in that
section. This subsection is repealed June 30, 2005.


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