§ 511. Financial assistance
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 3 Pa.C.S.A. AgricultureEffective: July 6, 2005
Effective: July 6, 2005
3 Pa.C.S.A. § 511
§ 511. Financial assistance
(c) Issuance and terms.--Subject to this section, the commission shall issue loans and set terms applicable thereto in any manner it deems appropriate. The commission may consider such factors as it deems relevant, including current market interest rates, the financial ability of the applicant to repay and the necessity to maintain the funds created hereunder in a financially sound manner. Loans may be based on the ability to repay from future revenue to be derived from the applicant's agricultural operation, by a mortgage or other security interest or by any other fiscal manner which the commission deems appropriate. The board shall have the power to defer principal on loans for up to 12 months. The minimum rate of interest to be paid on any loan made pursuant to this section shall be 1%.
Credits
2005, July 6, P.L. 112, No. 38, § 1, imd. effective.
3 Pa.C.S.A. § 511, PA ST 3 Pa.C.S.A. § 511
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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