Cal. Code Regs. Tit. 19, § 2835 - Loan Amount and Down Payment

(a) The maximum amount of any loan through the Agency is $10,000.

(b) The minimum down payment on any loan through the Agency shall be ten percent (10%) of the total purchase price.

(c) Upon purchaser's request, and conditioned upon approval by the Agency, purchaser may defer up to one-half (i.e.; 50%) of its minimum downpayment for a maximum of thirty (30) days. If purchaser requests a deferral, the amount purchaser pays to the Agency upon execution of the contract will be considered a deposit and will be returned to the purchaser should purchaser fail to tender the balance of the downpayment (i.e.; the amount deferred) when it is due. Transfer of the apparatus or equipment to purchaser is contingent upon receipt and satisfaction (by the Agency) of the deferred balance of the downpayment.

Notes

Cal. Code Regs. Tit. 19, § 2835

1. New section filed 1-6-89; operative 2-5-89 (Register 89, No. 3).
2. Change without regulatory effect amending section and NOTE filed 5-12-2010 pursuant to section 100, title 1, California Code of Regulations (Register 2010, No. 20).

Note: Authority cited: Sections 8585, 8589.19(a) and 8589.19(b)(2), Government Code. Reference: Sections 8585 and 8589.19(b)(2), Government Code.

1. New section filed 1-6-89; operative 2-5-89 (Register 89, No. 3).
2. Change without regulatory effect amending section and Note filed 5-12-2010 pursuant to section 100, title 1, California Code of Regulations (Register 2010, No. 20).