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Can you summarize NDCC Chapter 6-09.7?
Banks and Banking > Fuel Production Facility Loan Guarantee Program
Short Summary
The legal document governs the Fuel Production Facility Loan Guarantee Program administered by The Bank of North Dakota. The Bank is responsible for administering the state guarantee loan program and establishing the types of projects and ventures eligible for guarantees. The document also outlines the establishment and maintenance of a guarantee reserve fund, which is used to reimburse lenders for guaranteed loans in default. The Bank is authorized to charge reasonable fees for guaranteeing loans, with excess fees being deposited into the reserve fund. The document further specifies that the Bank may guarantee loans for the purchase or restructuring of agricultural real estate, subject to certain conditions. However, there are exemptions mentioned in the document, such as the expiration of certain provisions in 2013 and the repeal of certain sections in 2011. No specific penalties are mentioned in the document.
Whom does it apply to?
The Bank of North Dakota, advisory board of directors, lenders, eligible persons
What does it govern?
Fuel Production Facility Loan Guarantee Program
What are exemptions?
Expired under S.L. 2013, ch. 87, 4. Repealed by S.L. 2011, ch. 82, 4.
What are the Penalties?
No specific penalties mentioned.
Jurisdiction
North Dakota