California · Military and Veterans Code - MVC

MVC §987.57: (a) The department shall require that all applicants under this article qualify under applicable federal laws and regulations governing the permitted uses of tax-exempt bond funds, and file within the

What this law says, in plain English

The department must ensure applicants comply with federal laws governing tax-exempt bond fund uses and submit required filings.

Read the full statutory text

(a) The department shall require that all applicants under this article qualify under applicable federal laws and regulations governing the permitted uses of tax-exempt bond funds, and file within the time limits required under applicable federal law and regulations. (b) Notwithstanding any other provision of state law to the contrary, no time limit for filing shall be imposed upon any veterans who served in the Philippine Commonwealth Army, or the Regular Scouts (“Old Scouts”), or the Special Philippine Scouts (“New Scouts”) during World War II, except as required by federal law. (c) Notwithstanding subdivision (a) or any other law, the department shall require all applicants whose loans would be funded from sources other than tax-exempt bond funds, including, but not limited to, mortgage-backed securities, to qualify under the applicable federal laws and regulations governing the source of funds, whether taxable or tax exempt.

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