80-12-101. Short title

80-12-101. Short title. This chapter may be cited as the “Montana Agricultural Loan Authority Act”. History: En. Sec. 2, Ch. 580, L. 1983.

80-12-102. Definitions

80-12-102. Definitions. (1) As used in this chapter, the following definitions apply: (a) ”Agricultural land” means land actively devoted to agricultural use as defined in 15-7-202. (b) ”Authority” means the department of agriculture provided for in 2-15-3001. (c) ”Bonds” means bonds or bond anticipation notes issued by the authority under the provisions of this chapter. (2) References to the authority’s […]

80-12-103. Agricultural loan authority — general powers

80-12-103. Agricultural loan authority — general powers. The authority may: (1) retain professional consultants and advisers; (2) adopt rules governing its procedures; (3) purchase agricultural loans made by financial institutions; (4) issue bonds, in accordance with 80-12-301, necessary to provide funds for implementing this chapter; (5) invest any funds generated by sale of bonds in the permissible investments outlined in 17-6-211 […]

80-12-104. Powers to be interpreted broadly

80-12-104. Powers to be interpreted broadly. The powers enumerated in this chapter must be interpreted broadly to effectuate the purposes of the authority and may not be construed as a limitation of powers. History: En. Sec. 27, Ch. 580, L. 1983.