1999 Minnesota Statutes

     41.55 Eligibility. 

    A family farm security loan approval may be granted if the 
 following criteria are satisfied: 

    (a) that the applicant is a resident of the state of 
 Minnesota; 

    (b) that the applicant has sufficient education, training, 
 or experience in the type of farming for which the loan is 
 desired and participation in a farm management program approved 
 by the commissioner; 

    (c) that the applicant and the applicant's dependents and 
 spouse have total net worth valued at less than $75,000 and have 
 demonstrated a need for the loan; 

    (d) that the applicant intends to purchase farm land to be 
 used by the applicant for agricultural purposes; 

    (e) that the applicant is credit worthy according to 
 standards prescribed by the commissioner.  

    HIST: 1976 c 210 s 5; 1979 c 236 s 1; 1983 c 332 s 5; 1Sp1985 
 c 14 art 1 s 4; 1986 c 444; 1992 c 381 s 3