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Current as of January 01, 2024 | Updated by Findlaw Staff
An applicant for a loan must meet all of the following qualifications:
1. The applicant is at least eighteen years of age.
2. The applicant is a farmer.
3. The applicant has had the farming experience and training necessary to enable the applicant to operate a family farm and to make proper use of the proceeds of the loan.
4. The net worth of the applicant does not exceed an amount determined by the Bank of North Dakota.
Cite this article: FindLaw.com - North Dakota Century Code Title 6. Banks and Banking § 6-09.11-05. Loan applications - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-6-banks-and-banking/nd-cent-code-sect-6-09-11-05/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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