90-9-311. General criteria underlying loans and grants. The council may make a loan or grant only if the council determines that:
(1) the loan or grant is consistent with the findings and purposes of this chapter because it primarily adds value to Montana's agricultural products;
(2) the project for which the loan or grant is made has prospects for achieving commercial success given the current personnel, experience, and resources of the applicant;
(3) the project for which the loan or grant is made is anticipated to create new jobs or retain existing jobs in the state;
(4) the loan or grant is primarily intended to be used for processing or adding value to agricultural products produced or potentially produced in the state; and
(5) the applicant has a management structure that allows the council to reasonably conclude that the applicant will comply with ongoing reporting requirements and postdisbursement monitoring activities established by the council.
History: En. Sec. 1, Ch. 284, L. 1989; amd. Sec. 8, Ch. 171, L. 2001; amd. Sec. 8, Ch. 106, L. 2009.
Structure Montana Code Annotated
Title 90. Planning, Research, and Development
Chapter 9. Agriculture Development
90-9-301. Agriculture seed capital account -- matching funds
90-9-304. and 90-9-305 reserved
90-9-306. Appropriation authority and funding -- prohibitions
90-9-308. Application for loans and grants -- additional criteria
90-9-309. Terms and conditions of loans
90-9-310. Terms and conditions of grants