N.D. Cent. Code § 6-09.7-09
This is the official text of N.D. Cent. Code § 6-09.7-09, 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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6-09.7-09. Agricultural real estate loans - Guarantee
Official statutory text
6-09.7-09. Agricultural real estate loans - Guarantee
The Bank of North Dakota may guarantee the loan of money by banks, credit unions,
lending institutions that are part of the farm credit system, and savings and loan associations in
this state to eligible persons for the purchase of agricultural real estate or the restructuring of
agricultural real estate loans, provided the transactions do not exceed a loan-to-value ratio of
eighty percent and further provided that no single loan exceed four hundred thousand dollars.
The Bank of North Dakota may have no more than eight million dollars in outstanding loan
guarantees under this section. The Bank of North Dakota may establish additional terms,
conditions, and procedures, as necessary to meet the requirements of this section.
The Bank of North Dakota may guarantee the loan of money by banks, credit unions,
lending institutions that are part of the farm credit system, and savings and loan associations in
this state to eligible persons for the purchase of agricultural real estate or the restructuring of
agricultural real estate loans, provided the transactions do not exceed a loan-to-value ratio of
eighty percent and further provided that no single loan exceed four hundred thousand dollars.
The Bank of North Dakota may have no more than eight million dollars in outstanding loan
guarantees under this section. The Bank of North Dakota may establish additional terms,
conditions, and procedures, as necessary to meet the requirements of this section.
Status: in_force · Read it on the official government site
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