§ 80-12-202

80-12-202. Immediate repayment. If an applicant who has obtained the approval of the authority for the issuance of a bond to fund the applicant's loan for the acquisition of farm or ranch land sells the land for which the loan was made to any person, firm, or corporation other than the applicant's spouse, children, or corporation wholly owned by them, the loan must be repaid in full. History: En. Sec. 6, Ch. 580, L. 1983; amd. Sec. 2618, Ch. 56, L. 2009.