{"data":{"id":"us-mt/80-12-201","jurisdiction":"us-mt","citation":"80-12-201","heading":"Loan agreements -- general provisions.","body":"(1) Each loan approved by the authority for issuance of a bond must include a loan agreement providing a payment schedule that may not exceed 30 years.\n(2) The agreement must specify a reasonable rate of interest, which rate may be a variable rate provided the method of determination is contained in the loan agreement.\n(3) Loans approved by the authority for issuance of a bond may be secured by any liens or collateral the financial institution considers necessary.\n(4) The money received under a loan agreement may be used for:\n(a) acquisition of farm or ranch land;\n(b) a downpayment on the acquisition of farm or ranch land;\n(c) acquisition or construction of depreciable property used in the operation of a farm or ranch; or\n(d) production of energy using an alternative renewable energy source as defined in 15-6-225.","path":["TITLE 80. AGRICULTURE","CHAPTER 12. MONTANA AGRICULTURAL LOAN AUTHORITY ACT","Part 2. Loans"],"source_url":"https://mca.legmt.gov/bills/mca/title_0800/chapter_0120/part_0020/section_0010/0800-0120-0020-0010.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T05:00:46Z","sha256":"0dac25a2de6d7452d980cd10cf78035f6ed77af438f802901ccee744f8831594","source_id":"us-mt","stale":false,"prev":"us-mt/80-12-104","next":"us-mt/80-12-202"},"notice":"GroundRules: Original legal text. Not legal advice."}