§ 7 §974-A — State loans

Maine § 7 §974-A

• Jurisdiction: Maine
• Title 7: AGRICULTURE AND ANIMALS
• Part 2: MARKETING, GRADING AND LABELING
• Ch. 103: PRODUCTS CONTROLLED

Text

1.
State loans.
State loans are subject to the following conditions.
2.
State loan interest rate.
2-A.
State loan interest rate.
The interest rate for state loans is the federal prime rate on the date of loan commitment but may not be greater than 5%. Loans current on the effective date of this subsection may be refinanced at the borrower's request to an interest rate of the federal prime rate but not greater than 5%.
3.
Approval of loans and grants.
The commissioner has authority to approve all loans and grants from the fund.

Legislative History

PL 1987, c. 319, §4 (NEW). PL 1987, c. 754, §2 (AMD). PL 1999, c. 127, §A14 (AMD). PL 2001, c. 125, §4 (AMD). PL 2005, c. 335, §4 (AMD). PL 2013, c. 403, §§6-8 (AMD). PL 2017, c. 6, §1 (AMD). PL 2021, c. 31, §§1-3 (AMD). PL 2021, c. 560, §7 (AMD).