The board of university and school lands has authority to promulgate policies, rules, and regulations for the purchase of first mortgage farm loans. The board shall set such terms, conditions, interest rates, and other guidelines as it may desire commensurate with its fiduciary responsibilities.
N.D. Cent. Code § 15-03-04.2
Board authority over farm loans
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.