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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 200. Oklahoma Development Finance Authority |
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Chapter 10. Administration of Credit Enhancement Reserve Fund |
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Subchapter 7. Insurance Commitment Amounts, Premiums and Security |
SECTION 200:10-7-1. Insurance Commitment amounts
Latest version.
- The Fund will seek to assist as many Persons as practicably possible to achieve geographic diversity of commitments and the broadest distribution of benefits throughout the State of Oklahoma.(1) Maximum Insurance Commitment amount for Public Section Projects. The maximum amount of an Insurance Commitment for any one Project or Program participant will be $5,000,000.(2) Maximum Insurance Commitment amount for Private Sector Projects. The original principal amount of an Insurance Commitment shall not exceed Two Million Five Hundred Thousand dollars ($2,500,000.00).(3) Minimum Insurance Commitment amount. The minimum amount of an Insurance Commitment for any one Project or Program participant using Revenue Bonds will be $200,000 the actual insurance commitment may be smaller when used in guaranteeing an obligation authorized under the Small Business Credit Enhancement Program.