90-9-203. (Temporary) Rulemaking. The council shall adopt rules necessary to implement the provisions of this chapter, including rules:
(1) governing the conduct of council business;
(2) establishing application procedures for loans and grants authorized in 90-9-202;
(3) establishing application procedures and required documentation for the Montana farmer loan repayment assistance program pursuant to 90-9-504;
(4) establishing procedures to be followed by the council in its review process prior to making a loan or grant or providing loan repayment assistance;
(5) establishing postdisbursement activities to monitor the use of a loan or grant by its recipient, including:
(a) any reporting requirements; and
(b) procedures for repayment of a loan or grant upon failure of a recipient to meet the terms and conditions of that loan or grant;
(6) establishing interest rates for loans in accordance with market factors and the purposes of this chapter;
(7) limiting the amount of loans or grants that any company may receive or apply for over a given period of time;
(8) governing the deferral or forgiveness of loans and any accrued interest; and
(9) establishing other terms and conditions of loans and grants and loan repayment assistance, as necessary, within the requirements and purposes of this chapter. (Terminates June 30, 2029–sec. 16, Ch. 439, L. 2019.)
90-9-203. (Effective July 1, 2029) Rulemaking. The council shall adopt rules necessary to implement the provisions of this chapter, including rules:
(1) governing the conduct of council business;
(2) establishing application procedures for loans and grants authorized in 90-9-202;
(3) establishing procedures to be followed by the council in its review process prior to making a loan or grant;
(4) establishing postdisbursement activities to monitor the use of a loan or grant by its recipient, including:
(a) any reporting requirements; and
(b) procedures for repayment of a loan or grant upon failure of a recipient to meet the terms and conditions of that loan or grant;
(5) establishing interest rates for loans in accordance with market factors and the purposes of this chapter;
(6) limiting the amount of loans or grants that any company may receive or apply for over a given period of time;
(7) governing the deferral or forgiveness of loans and any accrued interest; and
(8) establishing other terms and conditions of loans and grants, as necessary, within the requirements and purposes of this chapter.
History: En. Sec. 9, Ch. 284, L. 1989; amd. Sec. 4, Ch. 171, L. 2001; amd. Sec. 4, Ch. 106, L. 2009; amd. Sec. 10, Ch. 439, L. 2019.