Montana Statutes
§ 80-12-203 — Qualifications Of Applicants
80-12-203 . Qualifications of applicants.
(1)To be eligible for a loan approved by the authority for issuance of a bond, an applicant:
(a)shall declare the intention to maintain the applicant's residence in Montana during the length of the loan;
(b)must have been approved by a financial institution; and
(c)must have a net worth not to exceed $450,000.
(2)Applications for loans to be approved by the authority for issuance of bonds may be submitted by individuals, partnerships, associations, or joint ventures. All persons involved in the application must meet the requirements of subsection (1). Corporations may not apply.
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Legislative History
En. Sec. 7, Ch. 580, L. 1983; amd. Sec. 1, Ch. 542, L. 1985; amd. Sec. 214, Ch. 368, L. 1991; amd. Sec. 1, Ch. 18, L. 2009; amd. Sec. 2619, Ch. 56, L. 2009; amd. Sec. 267, Ch. 271, L. 2019.
Nearby Sections
15
§ 80-12-101
Short Title§ 80-12-102
Definitions§ 80-12-104
Powers To Be Interpreted Broadly§ 80-12-201
Loan Agreements -- General Provisions§ 80-12-202
Immediate Repayment§ 80-12-203
Qualifications Of Applicants§ 80-12-204
Evaluation Of Applicants§ 80-12-205
Purchase Of Loans§ 80-12-206
Through 80-12-210 Reserved§ 80-12-212
Through 80-12-214 Reserved§ 80-12-215
Loan Guaranty Program§ 80-12-216
Agricultural Loan Guaranty Fund