Virginia Code 51.5-58: Provision of loans
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A. The Board may enter into loan agreements with any qualifying borrower who demonstrates (i) that the loan will be used to acquire assistive technology, other equipment, or other authorized purposes designed to help one or more persons with disabilities to improve their independence or become more productive members of the community and (ii) who has the ability to repay the loan.
Terms Used In Virginia Code 51.5-58
- Assistive technology: means any item, piece of equipment or device that enables an individual with a disability to improve his or her independence and quality of life. See Virginia Code 51.5-53
- Board: means the Board of Directors of the Assistive Technology Loan Fund Authority. See Virginia Code 51.5-53
- Process: includes subpoenas, the summons and complaint in a civil action, and process in statutory actions. See Virginia Code 1-237
- Qualifying borrower: means any person who demonstrates that a loan made pursuant to this chapter will assist one or more persons with disabilities to improve their independence or become more productive members of the community. See Virginia Code 51.5-53
B. The amount and terms of any loan shall be determined by the Board.
C. All loans must be repaid on such terms and at such interest rates as the Board may, from time to time, determine to be appropriate in accordance with a procedure prescribed by regulations adopted pursuant to the Administrative Process Act (§ 2.2-4000 et seq.).