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§ 10091.13. Termination and Withdrawal.

4 CA ADC § 10091.13Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 4. Business Regulations
Division 13. California Alternative Energy and Advanced Transportation Financing Authority
Article 5. Gogreen Home Energy Financing Program
4 CCR § 10091.13
§ 10091.13. Termination and Withdrawal.
Currentness
(a) A PFI, PFL, or Successor Servicer may withdraw from the Program after giving written notice to the Authority. That notice will specify either of the following:
(1) The PFI, PFL, or Successor Servicer waives any further interest in the Loss Reserve Account(s) and the reason for the PFI's, PFL's, or Successor Servicer's withdrawal from the Program, including for the reason that all Enrolled Loans covered by the Loss Reserve Account have been repaid or sold to a different PFI's, PFL's, or Successor Servicer's portfolio.
(2) The PFI or PFL will not enroll any further loans under the Program, but that the Loss Reserve Account(s) shall continue in existence to secure all Enrolled Loans that were enrolled prior to that notice and the reason for the PFI's or PFL's withdrawal from the Program.
(b) For any notice received pursuant to Section 10091.13(a)(1), the remaining balance in the PFI, PFL, or Successor Servicer's Loss Reserve Account(s) shall be distributed to the appropriate PFI, PFL or Successor Servicer Loss Reserve Account(s) or appropriate Program Holding Account(s).
(c) The Executive Director shall be authorized to terminate the participation of a PFI, PFL, or Successor Servicer in the Program, by notice in writing, upon the occurrence of any of the following:
(1) Entry of a cease and desist order, regulatory sanction or any other action against the PFI, PFL or Successor Servicer by a regulatory agency that may impair its ability to participate in the Program.
(2) Failure of the PFI, PFL, or Successor Servicer to abide by the Law or this Article.
(3) Failure of the PFI or PFL to enroll any Eligible Loans under the Program for a period of one (1) year.
(4) Failure of the Successor Servicer to undertake the servicing of any Enrolled Loans purchased pursuant to Section 10091.12 for a period of one (1) year.
(5) Failure of the PFI, PFL, or Successor Servicer to report to the Authority pursuant to Section 10091.11 for sixty (60) calendar days.
(6) Provision of false or misleading information regarding the PFI, PFL, or Successor Servicer to the Authority, or the failure to provide the Authority with a notice of material changes in the submitted information regarding the PFI, PFL or Successor Servicer.
(7) If there is a termination, the PFI, PFL, or Successor Servicer shall not be authorized to enroll any further Eligible Loans, but all previously Enrolled Loans will continue to be covered by the Loss Reserve Account(s) until those Enrolled Loans are paid, claims are filed, or the PFI, PFL, or Successor Servicer withdraws from the Program pursuant to Section 10091.13(a).
(A) A terminated PFI, PFL, or Successor Servicer must continue to report on Enrolled Loans pursuant to Section 10091.11.
(B) If a terminated PFI, PFL, or Successor Servicer fails to report to the Authority pursuant to Section 10091.11 for sixty (60) calendar days, the remaining balance in the PFI's, PFL's, or Successor Servicer's Loss Reserve Account(s) may be distributed to the appropriate Program Holding Account(s).

Credits

Note: Authority cited: Section 26009, Public Resources Code. Reference: Sections 26003(a)(3)(A), 26003(a)(6), 26003(a)(8)(A) and 26040, Public Resources Code.
History
1. New section filed 3-9-2015 as an emergency; operative 3-9-2015 (Register 2015, No. 11). A Certificate of Compliance must be transmitted to OAL by 9-8-2015 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 9-8-2015 as a deemed emergency pursuant to Public Resources Code section 26009, including amendment of subsections (a)(1)-(b) and (c)(4), new subsection (c)(5) and redesignation and amendment of former subsection (d) as new subsections (c)(7)-(c)(7)(B); operative 9-8-2015 (Register 2015, No. 37). A Certificate of Compliance must be transmitted to OAL by 12-7-2015 or emergency language will be repealed by operation of law on the following day.
3. New section, including 9-8-2015 amendments, refiled 12-3-2015 as a deemed emergency pursuant to Public Resources Code section 26009; operative 12-7-2015 (Register 2015, No. 49). A Certificate of Compliance must be transmitted to OAL by 3-7-2016 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 12-3-2015 order transmitted to OAL 3-1-2016 and filed 4-13-2016 (Register 2016, No. 16).
5. Amendment of subsection (a)(2) filed 3-5-2018 as an emergency; operative 3-5-2018 (Register 2018, No. 10). A Certificate of Compliance must be transmitted to OAL by 6-4-2018 or emergency language will be repealed by operation of law on the following day.
6. Amendment of subsection (a)(2) filed 3-5-2018 as an emergency; operative 6-5-2018 (Register 2018, No. 22). A Certificate of Compliance must be transmitted to OAL by 9-4-2018 or emergency language will be repealed by operation of law on the following day.
7. Certificate of Compliance as to 5-30-2018 order transmitted to OAL 8-3-2018 and filed 9-17-2018 (Register 2018, No. 38).
8. Amendment filed 5-24-2021 as an emergency; operative 5-24-2021 (Register 2021, No. 22). Emergency expiration extended 60 days pursuant to Executive Order N-40-20 plus an additional 60 days pursuant to Executive Order N-71-20. A Certificate of Compliance must be transmitted to OAL by 3-22-2022 or emergency language will be repealed by operation of law on the following day.
9. Amendment refiled 3-17-2022 as an emergency, including further amendment of subsections (b) and (c)(7)(B); operative 3-23-2022 (Register 2022, No. 11). A Certificate of Compliance must be transmitted to OAL by 6-21-2022 or emergency language will be repealed by operation of law on the following day.
10. Refiling of 3-17-2022 order on 6-20-2022 as an emergency; operative 6-22-2022 (Register 2022, No. 25). A Certificate of Compliance must be transmitted to OAL by 9-20-2022 or emergency language will be repealed by operation of law on the following day.
11. Certificate of Compliance as to 6-20-2022 order transmitted to OAL 8-19-2022 and filed 9-29-2022 (Register 2022, No. 39).
This database is current through 9/22/23 Register 2023, No. 38.
Cal. Admin. Code tit. 4, § 10091.13, 4 CA ADC § 10091.13
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