Minn. R. agency 139, ch. 4308, pt. 4308.0060

Current through Register Vol. 49, No. 29, 2025

Part 4308.0060 - TERM OF LOANS

The maximum term of a loan must not exceed the useful life of the real property, or 80 percent of the useful life of the equipment or machinery, or the following limits, whichever is less:

A. ten years for land, buildings, septic systems, or other real property;

B. five years for equipment or machinery; or

C. a weighted average of the limits under items A and B for loans for a combination of real property and equipment or machinery.

Minn. R. agency 139, ch. 4308, pt. 4308.0060

14 SR 1419; 19 SR 887

Statutory Authority: MS s 116J.035; 116J.617; 116J.980