Section 41B.211 — Data Privacy.
41B.211 DATA PRIVACY. Subdivision 1. Data on individuals. Financial information, including credit reports, financial statements, and net worth calculations, received or prepared by the authority regarding any authority loan and the name of each individual who is the recipient of a loan are private data on individuals, under chapter 13, except that information obtained under […]
Section 41B.22 — Construction.
41B.22 CONSTRUCTION. Sections 41B.01 to 41B.23 are necessary for the welfare of the state of Minnesota and its inhabitants; therefore, they shall be liberally construed to effect their purpose. History: 1986 c 398 art 6 s 22
Section 41B.23 — Severability; Actions.
41B.23 SEVERABILITY; ACTIONS. Each of the provisions of sections 41B.01 to 41B.23, and each application thereof to particular circumstances, is severable. If any provision or application is found to be unconstitutional and void, it is the intention that the remaining provisions and applications shall be valid and enforceable to the full extent possible under section […]
Section 41C.01 — Short Title.
41C.01 SHORT TITLE. This chapter shall be called and may be cited as the “Minnesota Agricultural Development Act.” History: 1991 c 332 s 6
Section 41C.02 — Definitions.
41C.02 DEFINITIONS. Subdivision 1. Scope. The definitions in this section apply to this chapter. Subd. 2. Agricultural business enterprise. “Agricultural business enterprise” means a small business, as defined in section 645.445, subdivision 2, which owns or plans to own properties, real or personal, used or useful in connection with the general processing of agricultural products […]
Section 41B.14 — Revenue Bonds; Nonliability Of State.
41B.14 REVENUE BONDS; NONLIABILITY OF STATE. The state of Minnesota is not liable on bonds of the authority issued under sections 41B.08 and 41B.044 and those bonds are not a debt of the state. The bonds must contain on their face a statement to that effect. History: 1986 c 398 art 6 s 14; 1987 […]
Section 41B.15 — State Pledge Against Impairment Of Contracts.
41B.15 STATE PLEDGE AGAINST IMPAIRMENT OF CONTRACTS. The state pledges and agrees with the holders of any bonds issued under section 41B.08, that the state will not limit or alter the rights vested in the authority to fulfill the terms of any agreements made with the bondholders, or in any way impair the rights and […]
Section 41B.16 — Security Account.
41B.16 SECURITY ACCOUNT. Upon determining that a default may occur in the payment of principal or interest on any issue of bonds issued under section 41B.08, or if any debt service reserve fund established in connection with those bonds is drawn upon because the revenues of the program are not then sufficient to make any […]
Section 41B.17 — Powers And Duties Of Trustee.
41B.17 POWERS AND DUTIES OF TRUSTEE. Subdivision 1. General. The trustee designated in any indenture or resolution securing an issue of bonds may, and upon written request of the holders of 25 percent in principal amount of the notes or bonds then outstanding shall, in the trustee’s own name, subject to the provisions of the […]
Section 41B.08 — Revenue Bonds; Purposes, Terms, Approval.
41B.08 REVENUE BONDS; PURPOSES, TERMS, APPROVAL. Subdivision 1. Bonds for program. The authority from time to time may issue its negotiable bonds in a principal amount which, in the opinion of the authority, is necessary to provide sufficient funds for achieving its purposes including the making of qualified agricultural loans or the purchase of interests […]