Administrative Rules of Montana
Department 4 - AGRICULTURE
Chapter 4.3 - AGRICULTURAL DEVELOPMENT DIVISION
Subchapter 4.3.5 - Participation Loan Rules
Rule 4.3.503 - REAL ESTATE REQUIREMENTS
Universal Citation: MT Admin Rules 4.3.503
Current through Register Vol. 18, September 20, 2024
(1) The department of agriculture shall hold the first mortgage position on all real estate participation loans.
(a) Real estate loans
will be made upon availability of funds, but in no case shall the term exceed a
20 year repayment schedule.
(b)
Title insurance and fire insurance must be carried on the mortgaged real
estate, with the Montana department of agriculture listed as the first lien
holder.
80-2-106, MCA; IMP, 80-2-104, MCA;
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