Loan applications and commitments (Repealed)

Any certified eligible borrower may submit a loan application to the commissioner upon a standard form prescribed by the commissioner. Approval of an application for a loan will be evidenced by the issuance of a written commitment by the commissioner setting forth the terms and conditions upon which the loan will be granted. In the event of noncompliance with such terms and conditions, the commitment may be terminated by the commissioner upon written notice to the applicant.