Minnesota § 583.21 LEGISLATIVE FINDINGS

Minnesota Statutes

§ 583.21 — LEGISLATIVE FINDINGS

Minnesota § 583.21

PartPOSTJUDGMENT REMEDIES; ALTERNATIVE DISPUTE RESOLUTION; BONDS

Ch. 583FARMER-LENDER MEDIATION

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Bluebook

Minn. Stat. § 583.21 (2026).

Text

The legislature finds that the agricultural sector of the state's economy is under severe financial stress due to low farm commodity prices, continuing high interest rates, and reduced net farm income. The suffering agricultural economy adversely affects economic conditions for all other businesses in rural communities as well. Thousands of this state's farmers are unable to meet current payments of interest and principal payable on mortgages and other loan and land contracts and are threatened with the loss of their farmland, equipment, crops, and livestock through mortgage and lien foreclosures, cancellation of contracts for deed, and other collection actions. The agricultural economic emergency requires an orderly process with state assistance to adjust agricultural indebtedness to prev

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The legislature finds that the agricultural sector of the state's economy is under severe financial stress due to low farm commodity prices, continuing high interest rates, and reduced net farm income. The suffering agricultural economy adversely affects economic conditions for all other businesses in rural communities as well. Thousands of this state's farmers are unable to meet current payments of interest and principal payable on mortgages and other loan and land contracts and are threatened with the loss of their farmland, equipment, crops, and livestock through mortgage and lien foreclosures, cancellation of contracts for deed, and other collection actions. The agricultural economic emergency requires an orderly process with state assistance to adjust agricultural indebtedness to prevent civil unrest and to preserve the general welfare and fiscal integrity of the state.

Legislative History

1986 c 398 art 1 s 6,18;1987 c 292 s 37;1989 c 350 art 16 s 8;1990 c 525 s 1;1991 c 208 s 2;1Sp1993 c 2 art 6 s 2;1995 c 212 art 2 s 11;1997 c 183 art 3 s 29;1998 c 395 s 7;1998 c 402 s 6;1999 c 214 art 2 s 19;2001 c 195 art 1 s 23;1Sp2001 c 1 art 2 s 25;1Sp2001 c 2 s 150