31. Any enterprise which obtains financial assistance without entitlement or uses its proceeds for purposes other than those for which it was granted, shall forfeit it by operation of law and must return the amounts received, unless the agency decides otherwise.
The agency may, in addition, cancel or suspend any financial assistance granted to an enterprise that no longer meets the conditions for the granting of the assistance, indemnity or compensation or fails to comply with a request made by the agency under section 30.
The agency may also refuse or cancel the financial commitment repayment guarantee of a lender who no longer meets the conditions under which it was granted or who fails to comply with a request made by the agency under section 30 or under the program governing the guarantee.
2000, c. 53, s. 31; 2011, c. 16, s. 17.