HARRY HUGHES, Governor                                       703

equity investment now appears in § 13—227(2) of
this subtitle.

In subsection (b) of this section, the term
"applicant" is substituted for the references to
"corporation" and "enterprise" for conformity.

13-230. LIMITATIONS ON POWER TO MAKE LOANS.

THE AUTHORITY MAY LEND MONEY TO AN APPLICANT ONLY IF:

(1)   THE APPLICANT MEETS THE REQUIREMENTS OF THIS
SUBTITLE;

(2)   THE LOAN DOES NOT EXCEED $150,000;

(3)   THE LOAN IS TO BE USED PRIMARILY FOR WORKING
CAPITAL; AND

(4)   THE LOAN MATURES NOT LATER THAN THE TERM OF
THE GOVERNMENT CONTRACT.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first two
sentences of Art. 41, § 266HH-5(1) and (4) — as
that paragraph relates to loans.

Item (1) of this section is new language
substituted for the present references to
"eligible applicant{s}". In this regard, see the
revisor's note to § 13—228 of this subtitle.

The last sentence of present Art. 41, §
266HH-5(1), which states that a direct loan is
the least preferred form of financial assistance,
now appears in § 13—227(3) of this subtitle.

13-231. QUALIFICATIONS OF APPLICANTS.

(A)   IN GENERAL.

TO QUALIFY FOR FINANCIAL ASSISTANCE UNDER THIS
SUBTITLE, AN APPLICANT SHALL MEET THE REQUIREMENTS OF THIS
SECTION.

(B)   INDIVIDUALS.

IF THE APPLICANT IS AN INDIVIDUAL, THE APPLICANT SHALL
SATISFY THE AUTHORITY THAT:

(1)   THE APPLICANT IS OF GOOD MORAL CHARACTER;

(2)   AS DETERMINED FROM CREDITORS, EMPLOYERS, AND
OTHER INDIVIDUALS WHO HAVE PERSONAL KNOWLEDGE OF THE
APPLICANT, THE APPLICANT HAS A REPUTATION FOR FINANCIAL
RESPONSIBILITY;