Upon termination of a lending organization’s participation in the program, the lending organization shall return to the commerce corporation, promptly after its demand therefor, an accounting of all program funds received by the lending organization, including a transfer of all currently outstanding loans that were made using program funds. Notwithstanding such termination, the lending organization shall remain liable to the commerce corporation with respect to any unpaid amount due from the lending organization pursuant to the terms of the commerce corporation’s provision of funds to the lending organization.
R.I. Gen. Laws § 42-64.25-9
Termination
Known as the Small Business Assistance Program Act
The act spans §§ 42-64.25-1 to 42-64.25-9 (14 sections).
P.L. 2015, ch. 141, art. 19, § 8.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.