N.D. Cent. Code § 6-09.9-02
This is the official text of N.D. Cent. Code § 6-09.9-02, 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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6-09.9-02. Definitions
Official statutory text
6-09.9-02. Definitions
In this chapter, unless the context or subject matter otherwise requires:
1. "Farmer" means a resident of this state who owns or operates an existing farm or
ranch operation, and has a debt-to-asset ratio of fifty percent or greater or a net worth
of less than an amount determined by the Bank of North Dakota. The industrial
commission may adopt additional eligibility criteria in determining who is a farmer
eligible for loans under this chapter.
2. "Operating loan" means a loan or extension of credit with a term of one year or less
made by a nongovernmental financial institution to a farmer for the operation of an
existing farm or ranch operation. An operating loan includes a farmers home
administration subordinated operating loan and guaranteed operating loan and may be
further defined by rule of the industrial commission.
In this chapter, unless the context or subject matter otherwise requires:
1. "Farmer" means a resident of this state who owns or operates an existing farm or
ranch operation, and has a debt-to-asset ratio of fifty percent or greater or a net worth
of less than an amount determined by the Bank of North Dakota. The industrial
commission may adopt additional eligibility criteria in determining who is a farmer
eligible for loans under this chapter.
2. "Operating loan" means a loan or extension of credit with a term of one year or less
made by a nongovernmental financial institution to a farmer for the operation of an
existing farm or ranch operation. An operating loan includes a farmers home
administration subordinated operating loan and guaranteed operating loan and may be
further defined by rule of the industrial commission.
Status: in_force · Read it on the official government site
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