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Rule Title: REAL ESTATE REQUIREMENTS
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Department: AGRICULTURE, DEPARTMENT OF
Chapter: AGRICULTURAL DEVELOPMENT DIVISION
Subchapter: Participation Loan Rules
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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4.3.503    REAL ESTATE REQUIREMENTS

(1) The department of agriculture shall hold the first mortgage position on all real estate participation loans.

(a) Real estate loans will be made upon availability of funds, but in no case shall the term exceed a 20 year repayment schedule.

(b) Title insurance and fire insurance must be carried on the mortgaged real estate, with the Montana department of agriculture listed as the first lien holder.

 

History: 80-2-106, MCA; IMP, 80-2-104, MCA; NEW, 1977 MAR p. 942, Eff. 11/26/77.


 

 
MAR Notices Effective From Effective To History Notes
11/26/1977 Current History: 80-2-106, MCA; IMP, 80-2-104, MCA; NEW, 1977 MAR p. 942, Eff. 11/26/77.
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