2021 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
41A.035 AGRICULTURAL RESOURCES LOAN PARTICIPATION.
The board may participate in loans made to finance agricultural resource projects by purchasing from a lender up to 75 percent of the amount of each eligible loan. If the loan participated in is for $500,000 or less, the loan may be for 100 percent of the cost of the project. If the loan participated in exceeds $500,000, the loan may not exceed 80 percent of the cost of the project. The lender shall service the loan or cause it to be serviced in a manner that equally protects the lender's and the board's interests.
History:
Official Publication of the State of Minnesota
Revisor of Statutes