Montana Statutes
§ 85-20-1006 — Terms And Conditions Of Loan
85-20-1006 . Terms and conditions of loan. A Milk River watershed improvement trusts loan is subject to the following terms and conditions:
(1)Except for loan agreements with an Indian tribe, the DNRC shall obtain a security interest in real estate that would be obtained by a reasonable, careful, and prudent lender.
(2)A current appraisal of real estate offered as security and a commitment for title insurance on that land must be secured by the borrower at the borrower's expense. All costs incident to the loan and loan closing must be paid by the borrower.
(3)For a loan agreement with an Indian tribe, security must be pursuant to the appropriate federal authority to secure a loan on trust land, and with an allottee, security must be pursuant to 25 U.S.C. 483A.
(4)The term of the loan m
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Related
§ 483A
25 U.S.C. § 483A
Legislative History
En. Sec. 6, Ch. 256, L. 2001.
Nearby Sections
15
§ 85-20-1001
Fort Belknap-Montana Compact Ratified§ 85-20-1002
Findings And Purpose§ 85-20-1003
Definitions§ 85-20-1004
Mitigation Account§ 85-20-1005
Watershed Improvement Trusts§ 85-20-1006
Terms And Conditions Of Loan§ 85-20-1007
Peoples Creek Minimum Flow Account§ 85-20-1008
Economic Development Plan§ 85-20-101
Approval Of Compact§ 85-20-102
Purpose Of The Part§ 85-20-103
Definitions§ 85-20-104
Filing Written Statement With Department§ 85-20-105
Duty To Install Measuring Devices§ 85-20-106
Duty To Measure Water§ 85-20-107
Status Of Prior Rights