§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 require one credit denial. This requirement shall be waived for new farmer loans for $100,000 or less for farm trainees and recent college graduates with a degree in agriculture. This requirement may also be waived by the board of agriculture for emergency loans. Credit denials may be accepted from any of the following:
(1) Private lenders;
(2) Members of the farm credit system; or
(3) The United States Department of Agriculture. [L 1961, c 104, §2; Supp, §102-3.5; HRS §155-3; am L 1979, c 222, §3; am L 1990, c 259, §1; am L 1997, c 258, §1; am L 1999, c 32, §2; am L 2011, c 184, §3; am L 2013, c 201, §3]
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