OAR 340-176-0005: Authority, Purpose, and Scope

(1) These rules are promulgated in accordance with and under the authority of ORS 466.706 through 466.835 as amended by Chapter 863, Oregon Laws, 1991 (Senate Bill 1215). These rules are in addition to OAR 340, division 172. (2) The purpose of these rules is to: (a) Provide for the regulation of persons who receive loan guarantees for UST project work at UST facilities holding or that previously held an accumulation of motor fuel for resale; and (b) Provide for the regulation of commercial lending institutions who issue guaranteed UST loans. (3) These rules establish requirements and standards for: (a) Loan guarantees for UST project work; (b) Applying and qualifying for a guaranteed loan through a commercial lending institution; (c) Loan default; and (d) Administration and enforcement of these rules by the Department.