80-12-202. Immediate repayment. If an applicant who has obtained the approval of the authority for the issuance of a bond to fund the applicant's loan for the acquisition of farm or ranch land sells the land for which the loan was made to any person, firm, or corporation other than the applicant's spouse, children, or corporation wholly owned by them, the loan must be repaid in full.
History: En. Sec. 6, Ch. 580, L. 1983; amd. Sec. 2618, Ch. 56, L. 2009.
Structure Montana Code Annotated
Chapter 12. Montana Agricultural Loan Authority Act
80-12-201. Loan agreements -- general provisions
80-12-202. Immediate repayment
80-12-203. Qualifications of applicants
80-12-204. Evaluation of applicants
80-12-206. through 80-12-210 reserved
80-12-211. Income tax deduction for land sale to beginning farmers
80-12-212. through 80-12-214 reserved