North Dakota Code 6-09.11-05 – Loan applications
Current as of: 2023 | Check for updates
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An applicant for a loan must meet all of the following qualifications:
Terms Used In North Dakota Code 6-09.11-05
- Bank: means any national bank, national banking association, corporation, state bank, state banking association, or savings bank, whether organized under the laws of this state or of the United States, engaged in the business of banking. See North Dakota Code 6-01-02
- following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
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.