WILLIAM DONALD SCHAEFER, Governor                            Ch. 689

(C)     "DEFENSE CONTRACTORS" MEANS COMPANIES THAT HAVE OVER THE 5
YEARS BEFORE THEIR APPLICATION FOR A DEFENSE ADJUSTMENT LOAN DERIVED
A SUBSTANTIVE SUBSTANTIAL AMOUNT OF THEIR REVENUES FROM DEFENSE
CONTRACTS.

(D)     "FUND" MEANS THE DEFENSE ADJUSTMENT LOAN FUND.

(E)      (1) "WORKING CAPITAL" MEANS FUNDS TO BE USED FOR CURRENT
OPERATIONS OF A BUSINESS.

(2) "WORKING CAPITAL" INCLUDES SUPPLIES, MATERIALS, LABOR,
EQUIPMENT, RENT, SOFTWARE, MARKETING, INSURANCE, AND FEES FOR
PROFESSIONAL SERVICES.

3-602.

THERE IS A DEFENSE ADJUSTMENT LOAN FUND ADMINISTERED BY THE
DEPARTMENT.

3-603.

(A)     THE DEFENSE ADJUSTMENT LOAN FUND SHALL BE USED AS A
NONLAPSING REVOLVING FUND TO MAKE LOANS TO NEW OR EXISTING COMPANIES
IN COMMUNITIES SUFFERING DISLOCATION DUE TO DEFENSE ADJUSTMENTS TO
ENABLE THE COMPANIES TO MODERNIZE THEIR MANUFACTURING OPERATIONS,
DEVELOP COMMERCIAL APPLICATIONS FOR TECHNOLOGY, OR ENTER INTO AND
COMPETE IN NEW ECONOMIC MARKETS.

(B)      NO PART OF THIS SUBTITLE MAY BE CONSTRUED TO OBLIGATE OR
REQUIRE FUNDING FROM THE GENERAL FUNDS OF THE STATE, REGARDLESS OF
THE AVAILABILITY OF OTHER FUNDING SOURCES FOR THE PURPOSES OF THE
FUND.

(C)     THE SECRETARY MAY DELEGATE THE UNDERWRITING, CLOSING,
MONITORING, AND WORKOUT FUNCTIONS FOR LOANS FUNDED BY THE DEFENSE
ADJUSTMENT LOAN FUND TO ANY DIVISION WITHIN THE DEPARTMENT OR MAY
CONTRACT WITH ANOTHER ENTITY TO PERFORM THESE FUNCTIONS FOR THE
DEFENSE ADJUSTMENT LOAN FUND.

3-604.'

(A)     THERE IS A DEFENSE ADJUSTMENT FINANCING COMMITTEE.

(B)     (1} THE COMMITTEE SHALL CONSIST OF AT LEAST SEVEN MEMBERS
APPOINTED BY THE SECRETARY.

(2) THE SECRETARY SHALL APPOINT THE MEMBERS OF THE
COMMITTEE SO THAT THE MEMBERSHIP OF THE COMMITTEE REFLECTS THE
GEOGRAPHIC, RACIAL, ETHNIC, AND GENDER MAKEUP OF THE POPULATION OF THE
STATE, WITH CONSIDERATION BEING GIVEN TO APPOINTMENT OF AT LEAST ONE
CURRENT OR FORMER DEFENSE WORKER OR OTHER REPRESENTATIVE OF LABOR.

(C)      (1) THE TERM OF AN APPOINTED MEMBER IS AT LEAST 2 YEARS.

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