Loans by Board to Licensees

Loans by Board to Licensees.--

1. (1) Subject to any regulations made in this behalf, the Board may grant loans or advances to any licensee for the purposes of his undertaking on such terms as the Board thinks proper.
2. (2) The Board in the discharge of its functions may call upon a licensee to expand his undertaking and offer to advance to him a loan on such terms and conditions, as it may deem proper for such expansion, and if the licensee refuses, fails or neglects to accept the loan from the Board on the terms and conditions offered or to raise a loan from other sources or to employ his own funds for purposes of such expansion and to carry out such expansion, the Board may, after giving the licensee six months notice in writing, purchase his undertaking.