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2016 Utah Code
Title 4 - Utah Agricultural Code
Chapter 19 - Rural Rehabilitation
Section 3 - Loans -- Not to exceed period of 10 years -- Agricultural Advisory Board to approve loans and renewals, methods of payments, and interest rates -- Guidelines in fixing interest rates declared.

UT Code § 4-19-3 (2016) What's This?
4-19-3. Loans -- Not to exceed period of 10 years -- Agricultural Advisory Board to approve loans and renewals, methods of payments, and interest rates -- Guidelines in fixing interest rates declared.
  • (1) The department may not make a loan authorized under this chapter for a period to exceed 10 years but the loan is renewable.
  • (2) The Agricultural Advisory Board shall approve:
    • (a) all loans and renewals;
    • (b) the methods of repayment; and
    • (c) the interest rates charged.
  • (3) In fixing interest rates, the Agricultural Advisory Board shall consider:
    • (a) the current applicable interest rate or rates being charged by the USDA Farm Service Agency on similar loans;
    • (b) the current prime rate charged by leading lending institutions; and
    • (c) any other pertinent economic data.
  • (4) The interest rates established shall be compatible with guidelines stated in this section.


Amended by Chapter 179, 2007 General Session

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