reglab/housing_qa huggingface dataset:
HI Rev Stat § 155-4 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-4 Powers and duties of the department.

  §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 part-time employees, subject to chapter 76, as are necessary to effectuate the purposes of this chapter;  (2) Designate agents throughout the State as may be necessary for property appraisal, the consideration of loan applications, and the supervision of farming operations of borrowers. The agents may be compensated for their services at rates the department in its discretion may fix;  (3) Initiate and carry on a continuing research and education program, utilizing and coordinating the services and facilities of other government agencies and private lenders to the maximum, to inform qualified farmers concerning procedures for obtaining loans and to inform private lenders concerning the advantages of making loans to qualified farmers;  (4) Cooperate with private and federal government farm loan sources to increase the amount of loan funds available to qualified farmers in the State;  (5) Assist individual qualified farmers in obtaining loans from other sources. Insofar as available funds and staff permit, counsel and assist individual farmers in establishing and maintaining proper records to prove their farming ability for loan purposes;  (6) Insure loans made to qualified farmers and food manufacturers by private lenders under section 155-5;  (7) Participate in loans made to qualified farmers and food manufacturers by private lenders under section 155-6;  (8) Make direct loans to qualified farmers and food manufacturers under section 155-8;  (9) Borrow money for loan purposes;  (10) Assign and sell mortgages;  (11) Hold title to, maintain, use, manage, operate, sell, lease, or otherwise dispose of personal and real property acquired by way of foreclosure, voluntary surrender, or otherwise, to recover moneys loaned;  (12) Sue and be sued in the name of the "State of Hawaii";  (13) Exercise incidental powers as are deemed necessary or requisite to fulfill its duty in carrying out the purposes of this chapter;  (14) Delegate authority to its chairperson to approve loans, where the requested amount plus any principal balance on existing loans to the applicant, does not exceed $50,000 of state funds; and  (15) Adopt rules pursuant to chapter 91 necessary for the purpose of this chapter. [L 1959, c 278, pt of §1; am L Sp 1959 2d, c 1, §25; am L Sp 1960, c 10, §1; am L 1961, c 132, §2; am L 1965, c 96, §83; Supp, §102-4; HRS §155-4; am L 1968, c 53, §2; am L 1979, c 222, §4; am L 1982, c 63, §2; am L 1989, c 27, §1; am L 1997, c 258, §2; am L 2000, c 51, §4 and c 253, §150; am L 2021, c 136, §1; am L Sp 2021, c 9, §3] Attorney General Opinions  If position of secretary is placed within provision of chapter 76, position must be filled by open competitive examination. Att. Gen. Op. 62-34.
HI Rev Stat § 155-5.6 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-5.6 Loan guaranty; important agricultural lands; agricultural and aquacultural loans.

  §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 this State, to agricultural producers for the purpose of developing and implementing agricultural projects; provided that the chairperson of the board of agriculture shall determine that:  (1) The agricultural projects are located on lands designated as important agricultural lands pursuant to part III of chapter 205; and  (2) The commercial lender has completed its due diligence in approving the loan, including ensuring adequate collateral. The chairperson of the board of agriculture may impose other conditions that the chairperson deems reasonable to implement the loan guaranty.  (b) In addition to the conditions that the chairperson of the board of agriculture may impose under subsection (a), any loan guaranty made pursuant to this section shall meet the following conditions:  (1) For any loan that finances operating costs, the maximum term of the loan shall be ten years;  (2) For any loan that finances capital improvement costs, the maximum term of the loan shall be twenty years;  (3) The interest rate charged on any loan shall be one per cent below the commercial lender's prime rate for as long as the loan guaranty is in effect;  (4) The loan guaranty may be up to eighty-five per cent of the outstanding principal amount of any single loan, but shall not include any fees or accrued interest associated with the loan or its collection; and  (5) The total principal amount of the guaranteed portion of all loans outstanding at any time shall not exceed $2,500,000.  (c) The department of agriculture may adopt rules pursuant to chapter 91 to effectuate this section.  (d) As used in this section:  "Agricultural producer" means a farmer, cooperative association, or landowner who derives at least fifty per cent of its gross income from agricultural or aquacultural activities.  "Agricultural project" means a project relating to agricultural or aquacultural operations or capital improvements. [L 2008, c 233, §8]
HI Rev Stat § 155-6 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-6 Participation in loans by the department.

  §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 made to a qualified farmer, qualified new farmer, or qualified food manufacturer by a private lender who is unable otherwise to lend the applicant sufficient funds at reasonable rates.  (b) Participating loans under this section shall be limited by sections 155-9 to 155-13 for purposes of class "A" through class "I", the department's share not to exceed the maximum amounts specified therefor; provided that class "E" loans to food manufacturers shall not be subject to section 155-10.  (c) Interest charged on the private lender's share of the loan shall not be more than the sum of two per cent above the lowest rate of interest charged by all state or national banks authorized to accept or hold deposits in the State of Hawaii, on unsecured short term loans made to borrowers who have the highest credit rating with those banks.  (d) The private lender's share of the loan may be insured by the department up to ninety per cent of the principal balance of the loan, under the provisions of section 155-5.  (e) When a participating loan has been approved by the department, its share may be paid to the participating private lender for disbursement to the borrower.  (f) Out of interest collected, the private lender may be paid a service fee to be determined by the department which fee shall not exceed one per cent of the unpaid principal balance of the loan; provided that this fee shall not be added to any amount which the borrower is obligated to pay; and further provided that the private lender services the loan.  (g) The participating private lender may take over a larger percentage or the full principal balance of the loan at any time that it has determined, to the satisfaction of the department, that the borrower is able to pay any increased interest charges resulting.  (h) Security for participating loans shall be limited by the provisions of section 155-11. All collateral documents shall be held by the private lender. Division of interest in collateral received shall be in proportion to participation by the department and the private lender. [L 1959, c 278, pt of §1; am L Sp 1959 2d, c 1, §25; am L 1961, c 104, §1(f), (g), (h), and c 132, §2; Supp, §102-6; HRS §155-6; am L 1968, c 53, § §4, 5; am L 1989, c 222, §2 and c 261, §8; am L 1993, c 350, §4; am L 1997, c 258, §3; am L 1999, c 32, §3; am L 2000, c 51, §7; am L 2015, c 155, §5]
HI Rev Stat § 155-6.5 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-6.5 Cooperation in loans by the department.

 §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 to qualified farmers and qualified food manufacturers. All fees shall be deposited into the general fund.  (b) Loans underwritten or serviced under this section shall not be subject to the restrictions in section 155-3.  (c) Loans underwritten or serviced under this section shall be limited by sections 155-1 and 155-9 to 155-12; provided that class "E" loans to food manufacturers shall not be subject to section 155-10. No class "D" and "F" loans shall be underwritten or serviced under this section.  (d) Loans underwritten or serviced under this section shall bear simple interest on the unpaid principal balance charged on the actual amount disbursed to the borrower. The interest rate on class "A", "B", "C", and "E" loans shall be at a rate of two per cent above the prime rate or at a rate of eight and one-half per cent a year, whichever is less. For purposes of this subsection, the prime rate shall be determined on January 1 and July 1 of each year and shall be the prime rate charged by the two largest banks in the State identified by the department of commerce and consumer affairs. If the prime rates of the two largest banks are different, the higher prime rate of the two shall apply.  The director of commerce and consumer affairs shall publish a notice statewide pursuant to section 1-28.5 to specify the prime rate.  (e) For loans underwritten or serviced under this section, funds shall be disbursed in accordance with rules adopted by the department pursuant to chapter 91.  (f) The department and the cooperating lender may charge a filing fee for any application made under this section. However, the applicant shall pay for any actual expenses incurred.  (g) The department and the cooperating lender may mutually agree on underwriting criteria, functions, responsibilities, and fees for loan underwriting and loan servicing, by way of a memorandum of agreement. The memorandum of agreement shall be approved by the chairperson of the board of agriculture. [L 1999, c 294, §2; am L 2000, c 51, §8; am L Sp 2021, c 9, §10]
HI Rev Stat § 155-7 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-7 REPEALED.

  §155-7 REPEALED. L 1997, c 258, §21.
HI Rev Stat § 155-8 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-8 Direct loans.

  §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 sufficient funds at reasonable rates from private lenders either independently or under sections 155-5, 155-5.5, and 155-6.  (b) Loans made under this section shall be limited by sections 155-9 to 155-13; provided that class "E" loans to food manufacturers shall not be subject to [section] 155-10.  (c) Loans made under this section shall bear simple interest on the unpaid principal balance, charged on the actual amount disbursed to the borrower. The interest rate on loans of class "A", "B", "C", "E", and "G" shall be at a rate of one per cent below the prime rate or at a rate of seven and one-half per cent a year, whichever is less. For purposes of this subsection, the prime rate shall be determined on January 1 and July 1 of each year, and shall be the prime rate charged by the two largest banks in the State identified by the department of commerce and consumer affairs. If the prime rates of the two largest banks are different, the lower prime rate of the two shall apply. The interest rate of class "F" loans shall be at a rate of one and one-half per cent below the prime rate or at a rate of six per cent a year, whichever is less. The interest rate of class "H" and "I" loans shall be three per cent a year. If the money loaned is borrowed by the department, then the interest on loans of the classes shall be the rate as determined above or one per cent over the cost to the State of borrowing the money, whichever is greater. Interest on loans made under this chapter shall not be less than three per cent a year.  (d) For loans made under this section, funds shall be disbursed in accordance with regulations of the department. [L 1959, c 278, pt of §1; am L Sp 1959 2d, c 1, §25; am L 1961, c 104, §1(j) and c 132, §2; Supp, §102-8; HRS §155-8; am L 1968, c 53, §6; am L 1972, c 87, §2; am L Sp 1977 1st, c 19, §1; am L 1979, c 222, §6; am L 1989, c 222, §3 and c 317, §2; am L 1990, c 259, §2; am L 1997, c 258, §4; am L 2000, c 51, §9; am L 2008, c 209, §3; am L 2011, c 184, §4; am L 2015, c 155, §6]
HI Rev Stat § 155-10 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-10 General eligibility requirements for loans.

  §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 a part-time farmer;  (2) A citizen of the United States who has resided in the State for at least three years, or any permanent resident alien who has resided in the State for at least three years; provided that this requirement shall not apply to applicants for class "D" loans who otherwise qualify;  (3) A sound credit risk with the ability to repay the money borrowed; and  (4) Willing to carry out recommended farm management practices. [L 1959, c 278, pt of §1; am L 1961, c 104, §1(1); Supp, §102-10; HRS §155-10; am L 1974, c 231, §2(2); am L 1990, c 259, §3; am L 2000, c 51, §11; am L 2001, c 141, §2]
HI Rev Stat § 155-11 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-11 Security for loans; mortgages.

  §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 land;  (2) Leaseholds of land where the lease has an unexpired term at least two years longer than the term of the loan;  (3) Crops, livestock, and equipment; and  (4) Other chattels.  (b) It also shall be lawful for the department of agriculture to require and accept as security for any loan:  (1) A junior mortgage; or  (2) Written agreements such as an assignment of income.  (c) For purposes of class "A" loans, no loan shall exceed eighty-five per cent of the value of the security offered. For purposes of class "B" and class "E" facility loans, no loan shall exceed eighty-five per cent of the value of the security offered. For purposes of class "C" loans and class "E" operating loans, the ratio of loan to the value of the security offered shall be discretionary with the department. For purposes of class "D" loans, the department, with the approval of the governor, may modify or waive any or all security requirements or any limitation with respect thereto.  (d) All security instruments for purposes of direct loans under section 155-8 shall be executed to and by the department. For purposes of insured loans under section 155-5, all security instruments shall be executed to and by the private lender; for purposes of participating loans under section 155-6 to and by the department and the private lender jointly.  (e) In case of the sale or transfer of the mortgaged land or goods in which the department has a security interest, as that term is defined in section 490:1-201, the department may permit the mortgage or encumbrance to be assumed by the purchaser. In case of the death of the borrower, the borrower's heir or heirs, or the borrower's legal representative or representatives, shall have the option within six months of the death to assume the mortgage of the deceased. The department or its agents, pending the exercise of the option and pending possession being taken by the heirs or representatives, may take possession of all mortgaged property and carry on the operation connected therewith, and the expense of the same shall be added to the principal due upon the mortgage to bear interest at the applicable rate.  (f) If a loan is granted, the department shall cause the title to real property to be examined and a mortgage drawn and recorded. The applicant shall pay the actual costs involved. No class "A" loans shall be made on unsurveyed lands. [L 1959, c 278, pt of §1; am L Sp 1959 2d, c 1, §25; am L 1961, c 104, §1(m), (q) and c 132, §2; Supp, §102-11; HRS §155-11; am L 1969, c 49, §2; gen ch 1985; am L 1990, c 230, §2; am L 1996, c 253, §2; am L 1997, c 161, §1; am L 2000, c 51, §12; am L 2004, c 162, §2]
HI Rev Stat § 155-12 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-12 Conditions.

  §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 for purposes other than those sanctioned by the department of agriculture;  (2) Carry out recommended management practices, including the keeping of proper records;  (3) Not sell or otherwise dispose of the mortgaged property except on written consent of the lender, and except upon conditions as may be prescribed in writing by the lender;  (4) Undertake to pay, when due, all taxes, liens, judgments, or assessments that may be lawfully assessed against the property mortgaged, together with the costs and expense of any foreclosure of the mortgage;  (5) Keep insured to the satisfaction of the department all buildings and other insurable property covered by the mortgage. Insurance shall be made payable to the mortgagee as its interests may appear at the time of the loss. At the option of the lender, and subject to the general regulations of the department, sums so received may be used to pay for reconstruction of the buildings destroyed, or for decreasing the amount of the indebtedness;  (6) Keep buildings in good repair; provide proper care for improvements, stock, and implements; keep land free from noxious weeds; and practice good systems of husbandry;  (7) All of the above conditions shall be held and construed to be a provision of any mortgage executed by virtue of this chapter whether appearing as a provision of the mortgage or not; and  (8) If the borrower is in default in respect to the above conditions, or any other conditions, or any other condition or covenant of the mortgage, the whole of the loan shall, at the option of the lender become due and payable forthwith. The lender may, with or without notice, take possession of the mortgaged property pending a foreclosure and may carry on the business pursuits upon the mortgaged premises, expending all reasonable sums therefor. The sums shall be a lien on the mortgaged premises and be recoverable in any foreclosure proceedings or otherwise. The lender may foreclose the mortgage by any method provided for by law. [L 1959, c 278, pt of §1; am L Sp 1959 2d, c 1, §25; am L 1961, c 104, §1(n) and c 132, §2; Supp, §102-12; HRS §155-12; gen ch 1985; am L 2000, c 51, §13]
HI Rev Stat § 155-13 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-13 Repayment; refinancing.

  §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 interest and then to principal.  (b) Additional payments in any sums, or the payment of the entire principal, may be made at any date within the time period of the loan.  (c) The lender may, for satisfactory cause and at its discretion, extend the time within which the installments of principal may be paid for a period not to exceed two years; provided that the lender may further extend the time beyond the said two years for an additional period not to exceed three years if the borrower is in a state of extreme financial hardship which is caused by factors beyond the borrower's control, which factors include, but not limited to, the following: depressed prices, extended poor weather conditions, persistent crop failures, and rapidly increasing production costs not accompanied by a corresponding increase in the crop price.  (d) For loans in class "C" which are made to plant and cultivate land used for crops requiring eighteen months or more before first maturing, the department of agriculture may defer the first payment of principal and interest until the crop first matures; provided that:  (1) The chairperson shall determine the commencement date for payment of the first installment. The chairperson may defer the initial payment on the principal of a loan, not to exceed five years from the date of issuance of the loan; and   (2) The chairperson may defer the interest on the principal of a loan, not to exceed two years from the date of issuance of the loan.  For purposes of this subsection, "chairperson" means the chairperson of the board of agriculture.  (e) The borrower will be expected to refinance the balance owed on any direct loan as soon as the borrower is able to obtain credit from other sources at reasonable rates and terms. [L 1959, c 278, pt of §1; am L Sp 1959 2d, c 1, §25; am L 1961, c 104, §1(o), (p) and c 132, §2; Supp, §102-13; HRS §155-13; am L 1978, c 190, §1; gen ch 1985; am L 1995, c 78, §1; am L 1997, c 162, §1]
HI Rev Stat § 155-14 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-14 Funds; application of payments.

  §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 department of agriculture under this chapter. The department, by its board of agriculture, may transfer moneys from the agricultural loan revolving fund to the aquaculture loan revolving fund, from which moneys shall be disbursed by the department pursuant to chapter 219, and may transfer moneys from that revolving fund to the agricultural loan revolving fund for disbursement pursuant to this chapter; provided that:  (1) The amount of moneys transferred shall not exceed $1,000,000 for each revolving fund within the calendar year; and  (2) Twenty days prior to the convening of each regular session of the legislature, the department shall report to the legislature all transfers that were made between the agricultural loan revolving fund and the aquaculture loan revolving fund during the preceding calendar year and the balance of each revolving fund as of December 31 of each year.  (b) All payments received on account of principal shall be credited to the agricultural loan revolving fund.  (c) A proper reserve shall be maintained in the agricultural loan revolving fund to guarantee payment of loans under section 155-5.  (d) All funds of the department shall be paid out on warrants signed by the chairperson of the board of agriculture. [L 1959, c 278, pt of §1; am L Sp 1959 2d, c 1, §25; am L 1961, c 132, §2; am L 1963, c 206, §2; Supp, §102-14; HRS §155-14; am L 1979, c 222, §8; am L 1987, c 110, §1; am L 1989, c 347, §2; am L 1992, c 69, §2; gen ch 1993; am L 1995, c 11, §2; am L 1996, c 253, §3; am L 1997, c 2, §3; am L Sp 2021, c 9, §4]
HI Rev Stat § 155-15 (2021)
2021 Hawaii Revised Statutes|Title 11. Agriculture and Animals|155. Agricultural Loans|155-15 REPEALED.

  §155-15 REPEALED. L 1995, c 77, §1.