Hawaii Revised Statutes 155. Agricultural Loans

• 155-1 Definitions.
  Whenever used in this chapter: "Biosecurity" means a system that serves to protect the health of livestock, poultry, and humans from diseases, pests, and...
• 155-2 Objectives.
  One of the objectives of the department of agriculture shall be to promote the agricultural development of the State by stimulating, facilitating, and granting...
• 155-3 Restriction.
  Loans authorized by this chapter shall require two credit denials, except for class "F" loans for new farmer and farm innovation programs, which shall...
• 155-4 Powers and Duties of the Department.
  The department of agriculture shall have the following powers: (1) Employ a secretary, who may be exempt from chapter 76, and other full-time and...
• 155-5 Loans Insured by the Department.
  (a) The department of agriculture may insure up to ninety per cent of the principal balance of a loan, plus interest due thereon, made...
• 155-5.5 Loans Guaranteed by the Department.
  (a) The department of agriculture may guarantee up to ninety per cent of the principal balance of a loan, plus interest due thereon, made to...
• 155-5.6 Loan Guaranty; Important Agricultural Lands; Agricultural and Aquacultural Loans.
  (a) From July 1, 2009, the chairperson of the board of agriculture may guarantee loans made by commercial lenders authorized to do business in...
• 155-6 Participation in Loans by the Department.
  (a) The department of agriculture may provide funds for a share, not to exceed ninety per cent, of the principal amount of a loan...
• 155-6.5 Cooperation in Loans by the Department.
  (a) The department of agriculture, for a fee, may underwrite and service loans for cooperating private lenders and government loan programs providing loan funds...
• 155-7 Repealed.
  L 1997, c 258, §21.
• 155-8 Direct Loans.
  (a) The department of agriculture may make loans directly to qualified farmers, qualified new farmers, or qualified food manufacturers who are unable to obtain...
• 155-9 Classes of Loans; Purposes, Terms, Eligibility.
  (a) Loans made under this chapter shall be for the purposes and in accordance with the terms specified in classes "A" through "I" in...
• 155-10 General Eligibility Requirements for Loans.
  To be eligible for loans under this chapter, an applicant shall be: (1) A qualified farmer, a person under the new farmer program, or...
• 155-11 Security for Loans; Mortgages.
  (a) Loans made under this chapter may be secured by duly recorded first mortgages upon the following property within the State: (1) Fee simple...
• 155-12 Conditions.
  Every borrower who is granted a loan under this chapter shall comply with the following conditions: (1) Expend no portion of the borrower's loan...
• 155-13 Repayment; Refinancing.
  (a) Loans made under this chapter shall be repaid in accordance with a payment plan specified by the lender, with payments applied first to...
• 155-14 Funds; Application of Payments.
  (a) There is created a special fund to be known as the agricultural loan revolving fund, from which moneys shall be loaned by the...
• 155-15 Repealed.
  L 1995, c 77, §1.

Last modified: October 27, 2016