§ 2-603. Loan process
West's Annotated Code of MarylandAgriculture
MD Code, Agriculture, § 2-603
§ 2-603. Loan process
(a)(1) The Department may make direct loans not exceeding $15,000 to qualifying farmers at an interest rate which will make the program self-supporting. In establishing the interest rate from time to time, the Department shall take into account all of the expenses of the program including administrative expenses of the program, and possible losses. The interest rate may not exceed 1 percent above the cost of the loans to the State.
(b)(1) To be eligible for a loan, an applicant shall meet all of the following conditions of eligibility:
Credits
Added by Acts 1977, c. 783. Amended by Acts 1985, c. 10, § 3.
MD Code, Agriculture, § 2-603, MD AGRIC § 2-603
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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