1999 Minnesota Code
Chapters 570 - 583 Compensatory and Collection Remedies
Chapter 583 Mortgage and Contract for Deed Moratoriums
Section 583.21 Legislative findings.

583.21 Legislative findings.

The legislature finds that the agricultural sector of the state's economy is under severe financial stress due to low farm commodity prices, continuing high interest rates, and reduced net farm income. The suffering agricultural economy adversely affects economic conditions for all other businesses in rural communities as well. Thousands of this state's farmers are unable to meet current payments of interest and principal payable on mortgages and other loan and land contracts and are threatened with the loss of their farmland, equipment, crops, and livestock through mortgage and lien foreclosures, cancellation of contracts for deed, and other collection actions. The agricultural economic emergency requires an orderly process with state assistance to adjust agricultural indebtedness to prevent civil unrest and to preserve the general welfare and fiscal integrity of the state.

HIST: 1986 c 398 art 1 s 6

* NOTE: This section, as added by Laws 1986, chapter 398, *article 1, section 6, is repealed July 1, 1999. Laws 1986, *chapter 398, article 1, section 18, as amended by Laws 1987, *chapter 292, section 37; Laws 1989, chapter 350, article 16, *section 8; Laws 1990, chapter 525, section 1; Laws 1991, chapter *208, section 2; Laws 1993, First Special Session chapter 2, *article 6, section 2; Laws 1995, chapter 212, article 2, section *11; Laws 1997, chapter 183, article 3, section 29; Laws 1998, *chapter 395, section 7; and Laws 1998, chapter 402, section 6.