The State Treasurer may establish the Loan Guarantee Program by establishing one or more Loan Guarantee Accounts at approved financial institutions. The Loan Guarantee Accounts may be used to cover the losses on guaranteed loans at a participating financial institution.
15 ILCS 516/30-15
Establishment of the Loan Guarantee Program
Known as the Community Development Loan Guarantee Act
The act spans §§ 15-516-30-1 to 15-516-30-5 (10 sections).
P.A. 101-657, eff. 3-23-21; 102-1027, eff. 5-27-22.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.