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§ 400.2505. Accreditation

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and Commerce

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 73 P.S. Trade and Commerce (Refs & Annos)
Chapter 12R. Job Enhancement Act (Refs & Annos)
Chapter 25. Community Development Bank Grant and Loan Program
73 P.S. § 400.2505
§ 400.2505. Accreditation
(a) General rule.--The department shall accredit community development financial institutions to participate in the program. The department may revoke accreditation from community development financial institutions which no longer meet accreditation criteria. Accreditation of a community development financial institution under this chapter does not, in and of itself, qualify an institution to participate in any other financing program administered by the department.
(b) Criteria.--Department criteria for accreditation shall include certification under the Community Development Banking and Financial Institutions Act of 1994 (Public Law 103-325, 108 Stat. 2163) and such other criteria as the department deems appropriate.
(c) Geographic diversity.--The department shall accredit eligible institutions in a manner to ensure the use of community development financial institutions in all geographic regions of this Commonwealth to the greatest extent possible.

Credits

1996, June 29, P.L. 434, No. 67, § 2505, added 1998, Nov. 17, P.L. 788, No. 100, § 10, imd. effective.
73 P.S. § 400.2505, PA ST 73 P.S. § 400.2505
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
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