N.D. Cent. Code § 6-09.16-05
This is the official text of N.D. Cent. Code § 6-09.16-05, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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6-09.16-05. Amount of loans - Terms and conditions
Official statutory text
6-09.16-05. Amount of loans - Terms and conditions
Loans in an amount not exceeding ninety percent of project costs may be made by the
Bank of North Dakota from the fund maintained pursuant to this chapter. Such loans must bear
interest at a rate of two percent of the outstanding principal balance of the loan. In consideration
of the making of a loan under this chapter, each borrower shall execute a contract with the
department to operate the project in accordance with standards established under chapter
Loans in an amount not exceeding ninety percent of project costs may be made by the
Bank of North Dakota from the fund maintained pursuant to this chapter. Such loans must bear
interest at a rate of two percent of the outstanding principal balance of the loan. In consideration
of the making of a loan under this chapter, each borrower shall execute a contract with the
department to operate the project in accordance with standards established under chapter
Status: in_force · Read it on the official government site
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