North Dakota Code 6-09.8-06 – Termination
Current as of: 2023 | Check for updates
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A loan guarantee may be terminated by the Bank upon the sale, exchange, assignment, or transfer of the beginning farmer’s interest in the qualified agricultural property and must be terminated if the Bank determines that the loan guarantee was obtained by fraud or material misrepresentation of which the lender or seller has actual knowledge.
Terms Used In North Dakota Code 6-09.8-06
- 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
- Fraud: Intentional deception resulting in injury to another.
- Property: includes property, real and personal. See North Dakota Code 1-01-49