Applicant Eligibility Requirements

PURPOSE: This rule sets forth the requirements which must be met by the applicant in order to be an eligible borrower for a loan under this program. (1) The following criteria must be met before making application for a loan through this authority: (A) The applicant must be an individual and must be able to provide proof of citizenship, identity, certify the intent to become a Missouri resident, and must be a resident of Missouri at the time of bond issuance. If the applicant employs laborers, he or she must provide proof of enrollment and participation in the federal work authorization program. (2) The applicant must be a bona fide farmer or rancher— (A) Doing business as an individual who is recognized as one whose chief occupation is farming or ranching; and (B) Primarily and directly engaged in agricultural production or activity. (3) The applicant must be unable to obtain a loan of equivalent terms from conventional sources without participation by the authority. AUTHORITY: section 348.075, RSMo 2000.* Original rule filed July 12, 1984, effective Oct. 11, 1984. Amended: Filed Feb. 11, 2009, effective Aug. 30, 2009. Amended: Filed July 30, 2015, effective Jan. 30, 2016. *Original authority: 348.075, RSMo 1981, amended 1995, 1997.