Home Table of Contents

§ 10083. Claims Against the Loss Reserve Pool.

4 CA ADC § 10083Barclays 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 4. Pace Loss Reserve Program
4 CCR § 10083
§ 10083. Claims Against the Loss Reserve Pool.
Currentness
Any PACE Program may make claim for payment from the loss reserve pool for the following losses incurred by first mortgage lenders and limited to losses on the Financings described in Section 10082 directly attributable to the existence of a PACE Program lien on a specified property. Losses include:
(a) Losses resulting from the first mortgage lender's payment of any PACE assessment paid while in possession of the property subject to the PACE assessment. Losses may also include penalties and interest where they have accrued through no fault of the first mortgage lender.
(b) In any forced sale for unpaid taxes or special assessments, losses incurred by the first mortgage lender resulting from PACE assessments being paid before the outstanding balance.
In no instance shall the loss exceed the amount of the PACE assessment, or in the case of forced sale for unpaid taxes or special assessments, the amount of the delinquent PACE assessments.

Credits

Note: Authority cited: Section 26009, Public Resources Code. Reference: Sections 26050, 26050.5, 26052, 26055 and 26060, Public Resources Code.
History
1. New section filed 3-10-2014 as an emergency; operative 3-10-2014 (Register 2014, No. 11). A Certificate of Compliance must be transmitted to OAL by 9-8-2014 or emergency language will be repealed by operation of law on the following day.
2. New section refiled 9-8-2014 as an emergency; operative 9-8-2014 (Register 2014, No. 37). Pursuant to Public Resources Code section 26009, this filing is conclusively presumed to be necessary for the immediate preservation of the public peace, health, safety, or general welfare within the meaning of Government Code section 11346.1. A Certificate of Compliance must be transmitted to OAL by 12-8-2014 or emergency language will be repealed by operation of law on the following day.
3. New section refiled 12-5-2014 as an emergency; operative 12-5-2014 (Register 2014, No. 49). Pursuant to Public Resources Code section 26009, this filing is conclusively presumed to be necessary for the immediate preservation of the public peace, health, safety, or general welfare within the meaning of Government Code section 11346.1. A Certificate of Compliance must be transmitted to OAL by 3-5-2015 or emergency language will be repealed by operation of law on the following day.
4. Amendment of first paragraph filed 12-15-2014 pursuant to section 100(a)(6), title 1, California Code of Regulations; operative 1-1-2015 pursuant to section 100(a)(6), title 1, California Code of Regulations (Register 2014, No. 51).
5. Certificate of Compliance as to 12-5-2014 order transmitted to OAL 2-25-2015 and filed 4-6-2015 (Register 2015, No. 15).
This database is current through 4/12/24 Register 2024, No. 15.
Cal. Admin. Code tit. 4, § 10083, 4 CA ADC § 10083
End of Document