Okla. Stat. tit. 2, § 2-5-86

borrower - Acceptance and review by lending institutions -

Certification of proposed use - Priority for economic needs of area

- Submission of package to State Treasurer - Approval or rejection.

A. The State Treasurer is authorized to disseminate information

and provide agricultural linked deposit loan packages to the lending

institutions eligible for participation in the Oklahoma Agricultural

Linked Deposit Program.

B. The agricultural linked deposit loan package shall be

completed by the borrower before being forwarded to the lending

institution for consideration. Any technical assistance in

completing the agricultural loan package shall be provided by the

Oklahoma Department of Agriculture, Food, and Forestry.

C. 1. An eligible lending institution that desires to receive

an agricultural linked deposit shall accept and review applications

for loans from eligible agricultural businesses. The lending

institution shall apply all usual lending standards to determine the

credit worthiness of each eligible agricultural business. No single

linked deposit for an alternative agricultural product shall exceed

One Million Dollars ($1,000,000.00). No single linked deposit for

an at-risk farm or ranch operation shall exceed One Million Dollars

($1,000,000.00). No single linked deposit for a healthy corner

store shall exceed Three Hundred Fifty Thousand Dollars

($350,000.00).

Oklahoma Statutes - Title 2. Agriculture Page 219

2. Only one linked deposit loan shall be made and be

outstanding at any one time to any eligible agriculture business.

However, the linked deposit loan may be refinanced.

3. No loan shall be made to any officer or director of the

lending institution making the loan.

D. An eligible agricultural business shall certify on its loan

application that the reduced rate loan will be used exclusively for

the purposes outlined in paragraph 6 of Section 5-82 of this title.

E. In considering which eligible agricultural businesses to

include in the agricultural linked deposit loan package for reduced

rate loans, the eligible lending institution shall give priority to

the economic and health needs of the area in which the business is

located and other factors it considers appropriate to determine the

relative financial need of the business.

F. 1. The eligible lending institution shall forward to the

State Treasurer an agricultural linked deposit loan package in the

form and manner prescribed and approved by the State Treasurer. The

package shall include information regarding the amount of the loan

requested by each eligible agricultural business and any other

information regarding each business the State Treasurer and the

State Board of Agriculture requires. The institution shall certify

that each applicant is an eligible agricultural business, and shall,

for each business, certify the present borrowing rate applicable to

each specific eligible agricultural business.

2. The institution and applicant shall certify that each

applicant is an eligible agricultural business and that the values

used to calculate the ratios of debt to assets have not been changed

or manipulated in order to qualify the applicant for the program.

3. Whoever knowingly makes a false statement concerning a

linked deposit loan application shall be prohibited from

participating in the linked deposit loan program.

G. Upon receipt of a completed agricultural linked deposit loan

package, the State Treasurer may review or audit the information

contained in the completed agricultural linked deposit loan package,

including, but not limited to, a review or audit of the values used

to calculate the ratios of debts to assets as provided by the

applicant and the institution. The State Treasurer shall forward

the completed agricultural linked deposit loan package to the Board.

The Board or its designee shall review the agricultural linked

deposit loan package to determine if the package qualifies under
e,

including, but not limited to, a review or audit of the values used

to calculate the ratios of debts to assets as provided by the

applicant and the institution. The State Treasurer shall forward

the completed agricultural linked deposit loan package to the Board.

The Board or its designee shall review the agricultural linked

deposit loan package to determine if the package qualifies under

this program. The Board or its designee shall return the package to

the State Treasurer with a written recommendation of approval or

rejection within ten (10) business days. If the Board or its

designee recommends rejection, the written recommendation shall

include reasons for the rejection. The Board or its designee shall

forward a copy of the rejection notice to the lending institution

Oklahoma Statutes - Title 2. Agriculture Page 220

and the borrower. The State Treasurer shall keep a chronological

list of all application recommendations received.