HAR §11-65-13. Penalty and procedures for DWSRF loan default

(a) Procedures for notice of loan default shall be included in the DWSRF loan agreements. 65-5 3161 §11-65-13 (b) In the event of a loan default, the director is entitled to collect interest from the recipient on the amount of each overdue repayment at the effective rate of twelve per cent simple interest per year commencing on the first day following the repayment due date and ending on the date the director receives the check or warrant issued by the recipient." [Eff and comp 6/1/00; comp 1/22/02; comp 5/17/03; comp 11/18/11; comp OCT 08 2015 ] (Auth: HRS §§340E-33(d)) (Imp: HRS §§340E-32, 340E-33, 340E-35, 340E-36, 340E-39, 42 U.S.C. §300j-12) 65-6 3161 Amendments to and compilation of chapter 20 title 65, Hawaii Administrative Rules, on the Summary Page dated OCT 08 2015 were adopted on OCT 08 2015 following a public hearing held on August 20, 2015, after public notice was given statewide in the Honolulu Star Advertiser, Maui News, Hawaii Tribune-Herald, West Hawaii Today and The Garden Island on July 15, 2015. The rules shall take effect ten days after filing with the Office of the Lieutenant Governor. Virginia Pressler VIRGINIA PRESSLER, M.D Director of Health LIEUTENANT GOVERNOR'S OFFICE '15 SEP 28 P12:00 David Y. IGE Governor State of Hawaii Dated: 9-25-15 Filed APPROVED AS TO FORM: Edward S. Bohlen Deputy Attorney General 65-7 316 This page intentionally left blank 3161