Montana Statutes
§ 90-9-309 — Terms And Conditions Of Loans
Montana·Title 90 PLANNING, RESEARCH, AND DEVELOPMENT·Ch. 9 AGRICULTURE DEVELOPMENT·Part 3 Grants and Loans
90-9-309 . Terms and conditions of loans.
(1)The term of any loan may not exceed 8 years.
(2)The amount of any loan may not exceed $100,000 in any 9-month period.
(3)Repayment of a loan is due in full upon dissolution or liquidation of the recipient company.
(4)The council may make a low-interest loan, at a rate established by rule, only if it determines that the applicant meets the criteria set forth in 90-9-308 and 90-9-311 and the applicant:
(a)has unencumbered collateral to secure the full amount of the loan; or
(b)meets other requirements established by rule.
(5)The council may make a high-interest loan, at a rate established by rule, only if it determines that the applicant meets the criteria set forth in 90-9-308 and 90-9-311 .
(6)The council may establish other terms and co
Free access — add to your briefcase to read the full text and ask questions with AI
Montana § 90-9-309 (Terms And Conditions Of Loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 12, Ch. 106, L. 2009.
Nearby Sections
15
§ 90-9-101
Short Title§ 90-9-102
Purpose§ 90-9-103
Definitions§ 90-9-104
Growth Through Agriculture Account§ 90-9-201
Council Organization -- Meetings§ 90-9-202
Powers And Duties Of Council§ 90-9-203
Rulemaking§ 90-9-302
Repealed§ 90-9-303
Repealed§ 90-9-304
And 90-9-305 Reserved§ 90-9-307
Accountability§ 90-9-309
Terms And Conditions Of Loans