There is hereby created the Rural Economic Development Loan Program. The Commissioner of Agriculture shall administer the Program, under which reduced rate loans may be made by participating financial institutions, after approval by the Rural Economic Development Loan Program Review Board, to finance qualified economic development projects from the Rural Economic Development Loan Revolving Fund created in Section 90.8 of this title. The Commissioner shall promulgate rules and take such other actions as may be necessary to implement the Program and monitor compliance of participating financial institutions and loan applicants and recipients.

Laws 2002, SB 1442, c. 486, § 3, eff. January 1, 2003; Amended by Laws 2003, SB 515, c. 87, § 2, emerg. eff. April 15, 2003 (superseded document available).