N.D. Cent. Code § 6-09.9-05
This is the official text of N.D. Cent. Code § 6-09.9-05, 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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6-09.9-05. Interest buydown
Official statutory text
6-09.9-05. Interest buydown
1. There is hereby established an interest rate buydown fund to be maintained by the
industrial commission at the Bank of North Dakota.
2. The industrial commission may buy down or reduce the interest paid by a farmer or
agribusiness on the Bank's portion of the participation operating loans by up to an
additional five percentage points a year below the amount provided in section
6-09.9-03.
3. Any interest buydown provided under this section must be repaid by the farmer or
agribusiness not later than July 1, 1991, under terms approved by the Bank of North
Dakota and pursuant to rules adopted by the industrial commission. Money collected
under this subsection must be deposited in the fire and tornado fund in the state
treasury.
1. There is hereby established an interest rate buydown fund to be maintained by the
industrial commission at the Bank of North Dakota.
2. The industrial commission may buy down or reduce the interest paid by a farmer or
agribusiness on the Bank's portion of the participation operating loans by up to an
additional five percentage points a year below the amount provided in section
6-09.9-03.
3. Any interest buydown provided under this section must be repaid by the farmer or
agribusiness not later than July 1, 1991, under terms approved by the Bank of North
Dakota and pursuant to rules adopted by the industrial commission. Money collected
under this subsection must be deposited in the fire and tornado fund in the state
treasury.
Status: in_force · Read it on the official government site
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