Section 2505. Accreditation.
(a) General rule.--The department shall accredit community development financial institutions to participate in the program. The department may revoke accreditation from community development financial institutions which no longer meet accreditation criteria. Accreditation of a community development financial institution under this chapter does not, in and of itself, qualify an institution to participate in any other financing program administered by the department.
(b) Criteria.--Department criteria for accreditation shall include certification under the Community Development Banking and Financial Institutions Act of 1994 (Public Law 103-325, 108 Stat. 2163) and such other criteria as the department deems appropriate.
(c) Geographic diversity.--The department shall accredit eligible institutions in a manner to ensure the use of community development financial institutions in all geographic regions of this Commonwealth to the greatest extent possible.
(2505 added Nov. 17, 1998, P.L.788, No.100)