Section 620.3250

Title XL ADDITIONAL EXECUTIVE DEPARTMENTS

Chapter 620

Effective - 28 Aug 2018   

  620.3250.  Boots-to-business program, veteran-owned small businesses — assignment of a mentor — rulemaking authority. — 1.  Any veteran who receives a small business loan through the state treasurer's linked deposit program set forth in sections 30.750 to 30.765 shall also be subject to the provisions of this section.

  2.  After receiving a loan from an eligible lending institution, as that term is defined in subdivision (10) of section 30.750^*, the owner of a veteran-owned small business shall complete a boots-to-business program that is approved by the department.

  3.  After receiving a loan from an eligible lending institution, as that term is defined in subdivision (10) of section 30.750^*, the owner of a veteran-owned small business will be assigned a mentor for the three hundred sixty-five days following the date of approval.  The owner shall meet with his or her mentor at least once every ninety days.

  4.  The department may adopt rules in establishing or approving boots-to-business programs under subsection 2 of this section and mentor programs under subsection 3 of this section.

  5.  Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028.  This section and chapter 536 are nonseverable, and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2018, shall be invalid and void.

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(L. 2018 H.B. 1503 merged with S.B. 573)

*Section "37.750" appears in original rolls, which does not exist.