(1) The department shall:
- (a) review and discuss the application and required documentation with the applicant or the applicant's representative; and
- (b) conduct a policy compliance review, credit analysis, and underwriting before presenting a written loan proposal to the Executive Committee for approval.
- (2) The Executive Committee shall make decisions concerning the use of loan program funds, and shall consider the recommendation of the Commissioner and the department.
- (3) The Board shall ensure, to the best of its ability, that available Rural Rehabilitation Loan funds are made available in accordance with this rule and state and federal laws. If there are insufficient funds to fund each loan application, the department shall distribute funds based on the date the complete application is received, in sequential order.
- (4) The Executive Committee shall approve loans by majority vote.
- (5) The Executive Committee shall report approved loans to the Board.
KEY: Rural Rehabilitation Loans, loans, grants, program operations, agriculture funding
Date of Last Change: February 11, 2026
Notice of Continuation: March 7, 2023
Authorizing, and Implemented or Interpreted Law: 4-19-103; 4-2-103(i); 4-19-102