Section 240. Right to terminate program

Latest version.

Home equity accounts may be financed pursuant to these rules and regulations only if and to the extent that the authority has made or expects to make funds available therefor. Notwithstanding anything to the contrary herein, the authority shall have the right, at any time, to discontinue accepting new applications for home equity accounts. Such discontinuance shall not, however, affect the terms and conditions of any then existing home equity account.

Historical Notes

Derived from VR400-02-0015 § 6.5, eff. July 19, 1988; amended, Volume 05, Issue 06, eff. November 21, 1988; Volume 05, Issue 21, eff. July 1, 1989.

Statutory Authority

§ 36-55.30:3 of the Code of Virginia.

                    
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