Arizona Recoverable Grant Agreement
Description
How to fill out Recoverable Grant Agreement?
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FAQ
2. $500,000 for each licensee. F. The liability of the fund for the acts of a licensed loan originator is terminated on the issuance of orders authorizing payments from the fund in an aggregate amount as prescribed by subsection E of this section.
The Recovery Fund is a form of financial protection provided by licensed Arizona residential contractors to residential homeowners. The Recovery Fund is governed by statute and available only to claimants who own and occupy, or intend to occupy, residential property.
Recoverable grant capital can serve the same purpose for a nonprofit organization. For example ? if a nonprofit is working to test a new, unproven solution to address climate change, they need access to patient risk capital to help them innovate and try new ways to address the problem.
Administrative Procedure for Recovery The claim must be filed within the relevant two-year statute of limitations, which is within two years after all proceedings, reviews and appeals connected with the Registrar's final order terminate per A.R.S. § 32-1133.01(G).
1. Thirty thousand dollars for each transaction, regardless of the number of persons aggrieved or the number of licensees or parcels of real estate involved. 2. Ninety thousand dollars for each licensee.
Recoverable grants are different from loans in that they are forgivable. Grantors may consider forgiving repayment under extraordinary circumstances, and in Echoing Green's case, are not repayable unless the recipient company is financially successful.
The maximum amount that can be claimed from Florida's Real Estate Recovery Fund is $50,000 per single transaction. An injured party can claim a maximum of $150,000 for multiple transactions; they can claim the unsatisfied portion of a judgment, whichever amount is less.
In addition to standard terms describing grant amounts and purposes, agreements also include provisions regarding intellectual property rights, reporting requirements, and indemnification, among other subjects. Special provisions are included that deal with international philanthropy.
