<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".07" citation="COMAR 05.01.07.07" title_num="05" subtitle_num="01" chapter_num="07" heading="Project and Policy Approval.">
  <paragraph num="A.">
    <text>Except as set forth in §B of this regulation, the Secretary, or a designee of the Secretary, shall approve all loans and debt financing after receipt of the recommendation of the Committee.</text>
  </paragraph>
  <paragraph num="B.">
    <text>The Secretary may approve a specific loan request without receiving the recommendation of the Committee if the Secretary determines, in the sole discretion of the Secretary, that the request requires urgent action. A written determination of urgent action by the Secretary is final and cannot be appealed.</text>
  </paragraph>
</regulation>