Administrative Rules of Montana
Department 4 - AGRICULTURE
Chapter 4.14 - MONTANA AGRICULTURAL LOAN AUTHORITY
Subchapter 4.14.3 - Substantive Rules
Rule 4.14.309 - REPAYMENT OF LOANS
Current through Register Vol. 6, March 22, 2024
(1) The beginning farmer's/rancher's repayment obligations, under the loan agreement and promissory note, are subject to mandatory prepayment in certain events which are set forth in the loan agreement.
(2) The beginning farmer/rancher repayment obligations under the loan agreement and promissory note are subject to optional prepayment under terms and conditions to be agreed upon between the beginning farmer/rancher and the financial institution. The documents and the structure of the financing require any installment payment made under the loan agreement and promissory note to be applied against a like installment payable under the bond and the financial institution agrees that any such prepayments will be so applied to the payment of the bond.
80-12-103, MCA; IMP, 80-12-103, MCA;