{"data":{"id":"us-ut/utah-code-4-19-104","jurisdiction":"us-ut","citation":"Utah Code § 4-19-104","heading":"Loans -- Not to exceed period of 10 years -- Agricultural Advisory Board executive committee to approve loans and renewals, methods of payments, and interest rates -- Guidelines in fixing interest rates declared.","body":"(1) The department may not make a loan authorized under this chapter for a period to exceed 10 years, but the loan is renewable.\n(2) Except as provided in Subsection (5), the Agricultural Advisory Board executive committee created in Section 4-2-108 shall approve:\n(a) loans and renewals;\n(b) the methods of repayment; and\n(c) the interest rates charged.\n(3) In fixing interest rates, the Agricultural Advisory Board executive committee shall consider:\n(a) the current applicable interest rate or rates being charged by the USDA Farm Service Agency on similar loans;\n(b) the current prime rate charged by leading lending institutions; and\n(c) any other pertinent economic data.\n(4) The interest rates established shall be compatible with guidelines stated in this section.\n(5) The Agricultural Advisory Board executive committee may create a subcommittee from the Agricultural Advisory Board membership to approve a loan or renewal under this section.","path":["Title 4 Utah Agricultural Code","Chapter 4-19 Rural Rehabilitation"],"source_url":"https://le.utah.gov/xcode/Title4/Chapter19/4-19-S104.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"6dddaaf58ce759bcac167079a51c89d0e9f4a1c95b38e88d3016330d63fde895","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-4-19-103","next":"us-ut/utah-code-4-19-105"},"notice":"GroundRules: Original legal text. Not legal advice."}