Wisconsin Administrative Code (Last Updated: January 10, 2017) |
Agency NR. Department of Natural Resources |
Chapters 700-799. Environmental Protection – Investigation and Remediation of Environmental Contamination |
Chapter 747. Petroleum Environmental Cleanup Fund |
SubChapter II. Program Eligibility |
Section 747.15. Assignment of awards.
Latest version.
- By written notification to the department, a claimant may make an assignment of an award to an institution which lends money to the claimant for the purpose of conducting remediation activities reimbursed under this chapter, as specified in s. 292.63 (4m) , Stats. This assignment of an award creates and perfects a lien in favor of the assignee in the proceeds of the award.
History:
Cr.
Register, February, 1994, No. 458
, eff. 3-1-94;
correction made under s.
13.92 (4) (b) 7.
, Stats.,
Register October 2013 No. 694
.
Note
Section
292.63 (4m)
, Stats., states the lien secures all principal, interest, fees, costs and expenses of the assignee related to the loan. The lien under this subsection has priority over any previously existing or subsequently created lien, assignment, security interest or other interest in the proceeds of the award.
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