HB 1462 Summary

• Establishes compensation for credit review board members at $135 per day plus expenses when attending board-directed meetings or performing official duties.

• Restructures the agricultural mediation service by transferring remaining home-quarter fund moneys to the agriculture commissioner on July 1, 2011, and limiting mediation fees to a maximum of $25 per hour.

• Expands eligibility for mediation services to include farmers, creditors, landowners, mineral interest owners, and persons eligible for United States Department of Agriculture mediation.

• Repeals sections relating to the home-quarter purchase fund (sections 6-09.10-05, 6-09.10-07, 6-09.10-08, and 6-09.11-10).

• Adds restructuring operating debt carryover as an eligible loan purpose for bank financing under farm loan programs.