Regulations of Connecticut State Agencies
(a) The Commissioner shall adopt such internal management procedures as may be required for the processing and servicing of loans made from the Energy Conservation Revolving Loan Account.
(1) At the commissioner's discretion a "Program Manager" shall be appointed to act in behalf of the commissioner as an internal manager and coordinator for the Energy Conservation Loan Program.
(2) The program manager shall be responsible for the daily operation, and policy enforcement for application review and approval; compliance review for energy conservation program improvements; contract compliance; coordination of outside services and contracts; staff and personnel management; accounting; and any other duties as delegated by the Commissioner.
(b) The Commissioner has the option to refuse to provide a loan for any work done prior to receipt, acceptance and approval of a formal application from the applicant by the Department. The Department shall not be liable for any work performed, materials purchased, contracts signed or any other debt incurred in connection with any unsuccessful application for an energy conservation loan. If, in the case of a faulty heating unit, it has been determined (by a Utility Company or Fire Dept.) that an emergency exists and that life or property could be in danger, the Commissioner can grant permission and/or approval in writing to proceed with the replacement heating unit at the time of application or credit report approval; the balance of all remaining paperwork should be completed at the earliest possible date.
(c) The Commissioner shall recall any loan granted from the Energy Conservation Loan Account when the proceeds of such loan are used for purposes other than those identified in sections 32-315 to 32-317, inclusive, of the General Statutes.
(d) The Commissioner shall recall and demand immediate repayment of any loan granted to an applicant if the required work completion forms, cancelled checks, signed contractor statements, and receipts for the energy improvement as agreed to in the signed commitment letter is not received by the date specified in the closing documents.
(e) In the event a loan is in arrears for a period of 120 days or more, the Commissioner may:
(1) Require the recipient of the loan to repay the loan in full; or
(2) To facilitate repayment, the Commissioner may recast the balance of the outstanding indebtedness, at an interest rate not less than that originally levied, for a period of time not exceeding the original loan term and consistent with the appropriate underwriting income ratio.
(f) The Commissioner shall take steps to make the existence of the Energy Conservation Loan Revolving Account known to low and moderate income families. He may use radio, newspaper, and/or television media. In addition, he shall consult with the Department of Social Services and local Community Action Agencies in an effort to reach as many low and moderate income families as possible.
(g) The Commissioner shall reimburse the general fund for interest on the outstanding bonds and notes used to fund loans made under this program by applying to the general fund (1) the interest payments received from recipients of loans made by the Commissioner under the Energy Conservation Loan Program, less the administrative expenses incurred by the Commissioner, and (2) the payments received from electric and gas companies as interest rate subsidy payments.
(Effective June 11, 1996)