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Rule Title: DEVELOPMENT LOAN - NONRENEWAL
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Department: COMMERCE
Chapter: MONTANA OFFICE OF TOURISM AND BUSINESS DEVELOPMENT DIVISION
Subchapter: Microbusiness Finance Program
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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8.99.507    DEVELOPMENT LOAN - NONRENEWAL

(1) Should the department choose not to renew a development loan, the term of the repayment schedule will be determined by the department taking into consideration the MBDC's outstanding microbusiness loans.

(2) The interest rate for repayment of an existing development loan will be set through negotiation by the department and the MBDC, but in no case will the interest be higher than the current interest rate for development loans as set forth in ARM 8.99.503 above.

History: 17-6-406, MCA; IMP, 17-6-406, 17-6-407, MCA; NEW, 1992 MAR p. 42, Eff. 1/17/92; AMD, 2011 MAR p. 1131, Eff. 6/24/11.


 

 
MAR Notices Effective From Effective To History Notes
8-99-90 6/24/2011 Current History: 17-6-406, MCA; IMP, 17-6-406, 17-6-407, MCA; NEW, 1992 MAR p. 42, Eff. 1/17/92; AMD, 2011 MAR p. 1131, Eff. 6/24/11.
1/17/1992 6/24/2011 History: Sec. 17-6-406, MCA; IMP, Sec. 17-6-406, 17-6-407, MCA; NEW, 1992 MAR p. 42, Eff. 1/17/92.
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