Minn. Stat. § 41B.039
BEGINNING FARMER PROGRAM.
Redline — January 1, 2009 → current.View current text →
Current — January 1, 2024
As of January 1, 2009
Subdivision 1. Establishment.
Subdivision 1. Establishment.
The authority may establish, develop criteria, and implement a beginning farmer program.
The authority may establish, develop criteria, and implement a beginning farmer program.
Subd. 2. State participation.
Subd. 2. State participation.
The state may participate in a new real estate loan with an eligible lender to a beginning farmer to the extent of 45 percent of the principal amount of the loan or $300,000, whichever is less. The interest rates and repayment terms of the authority's participation interest may be different than the interest rates and repayment terms of the lender's retained portion of the loan.
The state may participate in a new real estate loan with an eligible lender to a beginning farmer to the extent of 45 percent of the principal amount of the loan or $500,000, whichever is less. The interest rates and repayment terms of the authority's participation interest may be different than the interest rates and repayment terms of the lender's retained portion of the loan.
Subd. 3.
Subd. 3.
[Repealed, 1989 c 273 s 8 ]
[Repealed, 1989 c 273 s 8 ]
Subd. 4.
Subd. 4.
[Repealed, 1989 c 273 s 8 ]
[Repealed, 1989 c 273 s 8 ]
Subd. 5.
Subd. 5.
[Repealed, 1989 c 273 s 8 ]
[Repealed, 1989 c 273 s 8 ]
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.