§ 305.2. Subsequent Loan Benefit; Career Officer.

(a) A career officer, qualified as a veteran as defined in Section 980 of the Military and Veterans Code, shall be granted a subsequent opportunity to purchase property under the Cal-Vet loan program for service during more than one qualifying war period. An officer shall qualify for a subsequent loan for service if the officer served in a campaign or expedition, at any time for which a medal has been authorized by the federal government. Only one loan shall be granted during any one qualifying war period, therefore, the service in a campaign or expedition must have occurred outside of the qualifying war periods.

(b) The first Cal-Vet loan must be sold, or the veteran's interest must have been divested through divorce or dissolution of marriage, and the contract paid in full before the veteran may obtain a subsequent loan and the veteran must be qualified under the federal restrictions on the uses of tax-exempt bonds at the time the subsequent loan is funded.

(c) If the veteran has dual eligibility (qualifies for veteran status under two qualifying war periods), then the previous Cal-Vet loan must have been paid in full, but the property need not be sold.

HISTORY

1. New section filed 12-9-91; operative 1-8-92 (Register 92, No. 9).

2. Repealer of subsection (b) and subsection relettering filed 3-26-93; operative 4-26-93 (Register 93, No. 13).

3. Change without regulatory effect amending subsection (b), new subsection (c) and amendment of Note filed 12-2-96 pursuant to section 100, title 1, California Code of Regulations (Register 96, No. 49).

Note

Note: Authority cited: Section 700, Military and Veterans Code. Reference: Sections 980, 987.52, 987.86(a), 987.86(b), 987.86(c) and 987.86(d), Military and Veterans Code; and 26 United States Code Annotated, Section 143.