Administrative Rules of Montana
Department 4 - AGRICULTURE
Chapter 4.3 - AGRICULTURAL DEVELOPMENT DIVISION
Subchapter 4.3.5 - Participation Loan Rules
Rule 4.3.502 - OPERATING REQUIREMENTS
Universal Citation: MT Admin Rules 4.3.502
Current through Register Vol. 18, September 20, 2024
(1) Participation of operating loans shall give the department of agriculture a first lien position on all collateral listed on the subordination agreement.
(a) Operating loans will be for a one year
maximum time frame.
(b) Operating
loans may be made for 60% of the value of the mortgaged property.
(c) Insurance may be required on subordinated
property at the discretion of the department of agriculture.
80-2-106, MCA; IMP, 80-2-104, MCA;
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