41B.039 BEGINNING FARMER PROGRAM.
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/mn/chapter-41/41b-039A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
41B.039 BEGINNING FARMER PROGRAM.
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Subdivision 1. Establishment.
The authority may establish, develop criteria, and implement a beginning farmer program.
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Subd. 2. State participation.
The state may participate in a new real estate loan with an eligible lender to a beginning farmer to the extent of 45 percent of the principal amount of the loan. Individual loans must be no less than $20,000 and no more than $500,000. The interest rates and repayment terms of the authority's participation interest may be different than the interest rates and repayment terms of the lender's retained portion of the loan.
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Subd. 3.
[Repealed, 1989 c 273 s 8 ]
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Subd. 4.
[Repealed, 1989 c 273 s 8 ]
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Subd. 5.
[Repealed, 1989 c 273 s 8 ]