The Secretary shall approve this sort of State cash accessibility system as suitable for Federal contributions to the reserve fund if—
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(A) if privately owned, fifty one per cent is owned by a number of socially and economically disadvantaged men and women;
If, in any draw, you will discover more than seven prime prize winners and at the very least a person next prize winner, both the highest and next prizes will likely be pari-mutuel.
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(II) the loan will not be used to finance this kind of enterprise pursuits since the Secretary, by regulation, may possibly proscribe as prohibited loan uses for enrollment in an accepted State capital obtain application; and
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(three) offers for contributions to generally be made by the Condition into the reserve fund in amounts at the least equivalent towards the sum of the quantity of the insurance top quality prices compensated from the borrower along with the economical institution for the reserve fund for almost any freshly enrolled get more info loan; and
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