Montana Code Annotated 2017

TITLE 17. STATE FINANCE

CHAPTER 6. DEPOSITS AND INVESTMENTS

Part 3. Montana In-State Investment

Interest Rates And Repayment Of Intermediary Loan -- Terms

17-6-346. Interest rates and repayment of intermediary loan -- terms. (1) The interest rate on an intermediary loan made pursuant to 17-6-345 may not exceed 2% a year for a period of 30 years.

(2) For the first 3 years, repayment on the intermediary loan is of the interest only, and for the remainder of the term of the intermediary loan, the repayment is principal and interest.

History: En. Sec. 2, Ch. 183, L. 2003.