(Temporary)
The council shall adopt rules necessary to implement the provisions of this chapter, including rules:
(1) governing the conduct of council business;
(2) establishing application procedures for loans and grants authorized in 90-9-202;
(3) establishing application procedures and required documentation for the Montana farmer loan repayment assistance program pursuant to 90-9-504;
(4) establishing procedures to be followed by the council in its review process prior to making a loan or grant or providing loan repayment assistance;
(5) establishing postdisbursement activities to monitor the use of a loan or grant by its recipient, including:
(a) any reporting requirements; and
(b) procedures for repayment of a loan or grant upon failure of a recipient to meet the terms and conditions of that loan or grant;
(6) establishing interest rates for loans in accordance with market factors and the purposes of this chapter;
(7) limiting the amount of loans or grants that any company may receive or apply for over a given period of time;
(8) governing the deferral or forgiveness of loans and any accrued interest; and
(9) establishing other terms and conditions of loans and grants and loan repayment assistance, as necessary, within the requirements and purposes of this chapter. (Terminates June 30, 2029--sec. 16, Ch. 439, L. 2019.)
(Effective July 1, 2029)
The council shall adopt rules necessary to implement the provisions of this chapter, including rules:
(1) governing the conduct of council business;
(2) establishing application procedures for loans and grants authorized in 90-9-202;
(3) establishing procedures to be followed by the council in its review process prior to making a loan or grant;
(4) establishing postdisbursement activities to monitor the use of a loan or grant by its recipient, including:
(a) any reporting requirements; and
(b) procedures for repayment of a loan or grant upon failure of a recipient to meet the terms and conditions of that loan or grant;
(5) establishing interest rates for loans in accordance with market factors and the purposes of this chapter;
(6) limiting the amount of loans or grants that any company may receive or apply for over a given period of time;
(7) governing the deferral or forgiveness of loans and any accrued interest; and
(8) establishing other terms and conditions of loans and grants, as necessary, within the requirements and purposes of this chapter.