Ky. Rev. Stat. § 247.978

Current through 2024 Ky. Acts ch.225

Section 247.978 - Debt limitation for qualified applicant

The total amount of principal which a qualified applicant may owe to the corporation at any one (1) time shall not exceed:

(1) Two-hundred fifty thousand dollars ($250,000) for first time farmers as defined by the United States Department of Agriculture, Farm Service Agency; or

(2) One million dollars ($1,000,000) for other applicants.

KRS 247.978

Effective:7/13/2004
Amended 2004, Ky. Acts ch. 41, sec. 6, effective7/13/2004. -- Amended 1990 Ky. Acts ch. 440, sec. 12, effective 7/13/1990. -- Created 1984 Ky. Acts ch. 374, sec. 20, effective 4/11/1984.