(1) The development loan interest rates will be set by the department annually based on a forecast of administrative expenses and income for the program.

(2) The interest rate for each development loan will be established at the time the promissory note is signed and may be adjusted annually, provided that the rate does not exceed the maximum rate specified in the development loan agreement.

History: Sec. 17-6-406, MCA; IMP, Sec. 17-6-406, MCA; NEW, 1992 MAR p. 42, Eff. 1/17/92; AMD, 1993 MAR p. 2236, Eff. 10/1/93; AMD, 2000 MAR p. 1045, Eff. 4/28/00.