The purpose of the Farm and Ranch Finance Program is to provide financing to eligible and creditworthy applicants for the purchase of land for the primary purpose of farming or ranching. It is not intended to compete with available credit sources or to be a lender of last resort, but to complement and extend those available sources by sharing risk or reducing their exposure through sound and constructive credit practices.

Source Note:The provisions of this §24.2 adopted to be effective June 16, 1995, 20 TexReg 4047; amended to be effective September 16, 1997, 22 TexReg 9243.