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Ohio Laws and Rules
As used in rules 901:3-63-01 through 901:3-63-23 of the Administrative Code,
(A) “AFC” means the agricultural financing commission.
(B) “Director” means the director of the Ohio department of agriculture.
(C) “DOD” means the Ohio department of development.
(D) “Family farm loan fund” means the fund created within the FFLP to finance guaranteed portions of loans made under the FFLP.
(E) “Farm business plan” means a plan developed under the requirements of rule 901:3-63-06 of the Administrative Code.
(F) “FFLP” means the family farm loan program established by enacted Substitute House Bill no. 621 of the 122nd General Assembly of the state of Ohio.
(G) “Loan applicant” means a person or persons engaged in an independent family farm operation of one thousand total acres in size or less, planned or in existence, and does not include commercial agribusiness enterprises or their owned subsidiaries.
(H) “Location” means an area within a ten-mile radius from the approximate geographic center of the real property or the existing farm which is the subject of an FFLP loan, where the approximate geographic center is located in relationship to the surveyed perimeter of the farm.
(I) “Lending institution” means any bank or other financial institution qualified to participate in the FFLP pursuant to division (A)(1) of section 901.81 of the Revised Code.
(J) “Management strategy” means a strategy developed under the requirements of rule 901:3-63-06 of the Administrative Code.
(K) “OFI” means the office of financial incentives in the Ohio department of development.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 901.80, 901.83
Prior Effective Dates: 8/7/98
(A) The director shall publish, maintain, and update as necessary, in conjunction with the Ohio DOD, guidelines and procedures for FFLP applicants. Said publication shall be designated ODA FFLP PUB1.
(B) Within thirty days of each publication or republication of ODA FFLP PUB1 the director shall distribute the publication or republication to lending institutions and appropriate farm service organizations.
(C) Lending institutions shall have the primary responsibility for distributing ODA FFLP PUB1 to applicants. Each applicant completing form ODA RFGA1 shall be given a copy of ODA FFLP PUB1.
(D) In addition to guidelines and procedures for applicants set forth in ODA FFLP PUB1, the director may establish, publish, distribute and require any guidelines and procedures necessary for and relevant to ODA FFLP PUB1 applications.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 901.82
Prior Effective Dates: 8/7/98
(A) Loan applicants shall demonstrate eligibility for financial assistance under the FFLP by completing form ODA DAE1, determination of applicant eligibility, in conjunction with the lending institution to which the applicant has submitted a loan application.
(B) The lending institution shall provide form ODA DAE1 to each loan applicant and shall obtain from each applicant all necessary information and assistance required to complete the form. The lending institution shall have primary responsibility for completion of the form and for obtaining and providing any exhibits, attachments, or supplements required for completion of the form.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 901.81, 901.82
Prior Effective Dates: 8/7/98
(A) In addition to all forms required by a participating lending institution, applicants for an FFLP loan must complete the following forms:
(1) Form ODA RFGA1, “Applicant’s Request for Guarantee Application”;
(2) Form ODA PPS1, “Applicant’s Family Farm Loan Guarantee Program Project Summary”;
(3) A farm business plan as required by rule 901:3-63-06 of the Administrative Code.
(4) A management strategy, in such form as established by the lending institution; and
(5) Any other form as approved and requested by the director.
(B) For the continuing benefit of the FFLP and the ongoing security and integrity of the family farm loan fund, the director may from time to time establish new forms to be completed by applicants, and may from time to time revise, amend, or discontinue the use of existing forms.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 901.82
Prior Effective Dates: 8/7/98
(A) The following fees and charges shall apply to the family farm loan program:
(1) For each loan granted under the family farm loan program, the lending institution shall pay the DOD a fee of one per cent per annum simple interest on earnings on the guaranteed portion of the loan. Such payment shall be made to the DOD on the anniversary date of the closing of the loan each year, and shall be prorated as necessary on a monthly basis for the first and last years of the term of the guaranteed portion of the loan. The DOD shall continue to service the guaranteed portion of the loan for the entire term of the guaranteed portion of the loan, or until the date constituting the tenth anniversary of the granting of the guaranteed portion of the loan, whichever comes first.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 901.82
Prior Effective Dates: 8/7/89
(A) Each loan application made pursuant to the family farm loan program shall be accompanied by a farm business plan and management strategy. A farm business plan and management strategy shall contain, at a minimum, detailed and supported information under the following headings:
(1) Agricultural business for which loan will be used.
Applicant shall provide a detailed description of the type of agricultural business for which the loan will be used.
(2) Marketing plan for business.
(a) Applicant shall provide a detailed five-year marketing plan for the farm business related to the loan. The marketing plan shall be based upon any reasonable format for such plans acceptable to the lending institution and the Ohio department of agriculture, and generally used in and by the agricultural community.
(b) The lending institution, the agriculture financing commission, and/or the director may require further information regarding the plan from applicants.
(3) Statement of applicant experience and training.
(a) Applicant shall provide a list of educational achievements.
(b) Applicant shall reference all degrees received and all farm-related training and certification.
(c) Applicant shall provide a detailed list of training in any area of farming related to the farming business which is the subject of the loan.
(d) Applicant shall specify in detail all experience on a working farm, including family farm experience and other experience.
(e) Applicant shall state how their farm-related education and experience relates to the farm business which is the subject of the loan.
(4) Budget and cash flow projections for existing and/or planned farm business.
Applicant shall prepare and present to the lending institution three-year budget and cash flow projections for the existing and/or planned business which is the subject of the loan application. Such projections shall include all projected income and expenses for the business for three years from the date of the loan application and shall include, at a minimum:
(a) Cash operating expenses;
(b) Non-farm income and expenses;
(c) Repayment ability and capacity from planned business;
(d) Repayment ability and capacity from existing business and other income; and
(e) Debt repayment schedule, including interest and principal.
(B) Applicant shall work with lending institutions in the development of their farm business plans and management strategies and, wherever feasible, shall use forms required by lending institutions to meet the requirements of paragraph (A) of this rule.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 901.82
Prior Effective Dates: 8/7/89
(A) The interest rate on the non-guaranteed portion of any loan made pursuant to the family farm loan program shall be calculated by the lending institution and shall be agreed upon between the applicant and the lending institution.
(B) The interest rate on the guaranteed portion of any loan made pursuant to the family farm loan program shall not exceed five per cent simple interest on the entire amount of the guaranteed portion of the loan, and shall be subdivided and allotted as follows:
(1) No more than four per cent of said interest rate shall be attributed to simple interest on the loan; and
(2) A fixed amount of one per cent of said interest rate shall be attributed to interest earnings on deposit.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 901.80, 901.83
Prior Effective Dates: 8/7/98
(A) The maximum term for the guaranteed portion of any loan made under the family farm loan program shall be ten years, not to exceed the term of the non-guaranteed portion of the loan if the term of the non-guaranteed portion is below ten years.
(B) Lending institutions shall blend all interest rates, fees and charges to effect a single monthly payment schedule for a borrower under the FFLP.
(C) All payment schedules and amortization tables related to loans made under the FFLP shall both cause and reflect repayment of the guaranteed portion of any FFLP loan according to the provisions of paragraph (A) of this rule.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 908.82, 901.83
Prior Effective Dates: 8/7/89
(A) Obligations on the guaranteed portions of loans made pursuant to the FFLP may not be transferred by applicant unless a proposed transferee qualifies for an FFLP loan as a new borrower under the terms and conditions set forth in rule 901:3-63-02 of the Administrative Code and the transfer is agreed to by the lending institution, the AFC, and the director.
(B) Lending institutions which have granted the non-guaranteed portion of loans pursuant to the FFLP shall not transfer, discount, sell, or otherwise dispose of any contract of guarantee executed between the lending institution and the director and shall remain responsible for all obligations under such contracts of guarantee until completion of the full term of the guaranteed portion of any loan.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 901.82, 901.83
Prior Effective Dates: 8/7/98
Other terms and conditions for FFLP loan guarantees may be established from time to time, as required, by the director. In establishing any such terms and conditions, the director shall consult with appropriate representatives of the Ohio lending industry, the DOD, and the AFC.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 901.80, 901.82, 901.83
Prior Effective Dates: 8/7/98
(A) The AFC shall review loan applications in the order that they are received and docketed by the ODA. The order in which loan applications are deemed to have been received and docketed by the ODA shall be determined by the date and time stamp placed upon the ODA docket for each loan application package received for consideration from the DOD.
(B) Pursuant to the requirements of paragraph (C) of rule 901:3-63-17 of the Administrative Code, the director shall place loan applications on the agenda for an AFC meeting in the order in which the loan applications under consideration by the AFC were received by the ODA.
(C) Loan applications shall be evaluated, ranked and approved by the AFC and the director in strict accordance with the terms, conditions and requirements set forth in Chapter 901-2 of the Administrative Code. No other terms, conditions or requirements shall be used to evaluate, rank and/or approve loan applications.
(D) Loan applications which are incomplete upon receipt by the ODA shall be docketed but shall not be placed upon an agenda for consideration by the AFC until complete.
(E) Loan applications which are docketed by the ODA, and for which additional information is required from an applicant by the AFC or the director, shall not be scheduled upon an agenda for consideration by the AFC, and shall not be reviewed for approval by the director, until all additional information required of the applicant is received in appropriate form.
HISTORY: Eff 8-7-98
Rule promulgated under: RC Chapter 119.
Rule authorized by: RC 901.82(A)(8)
Rule amplifies: RC 122.011, 901.82
R.C. 119.032 REVIEW DATE: 07-29-2003
(A) By the last day of each month, the DOD shall issue a report on the number and status of all loans currently outstanding under the FFLP. Each report shall contain, at a minimum, the following information:
(1) The total number of all loans serviced to date for the FFLP;
(2) The total amount of all loans serviced to date for the FFLP;
(3) The total number and total amount of all loans serviced during the previous month for the FFLP;
(4) The total number of all FFLP loans for which payments have been current, and the ratio of this number to the total number of FFLP loans made under the program;
(5) The total number of FFLP loans for which payments have been late, and the ratio of this number to the total number of FFLP loans made under the program;
(6) The total number of FFLP loans which have defaulted, and the ratio of this number to the total number of FFLP loans made under the program;
(7) The name of each lending institution which has participated or is participating in the program, and the total amount of guaranteed loan funds received by each such institution;
(8) The total number of loan application packages sent to the ODA during the previous month; and
(9) Any other information deemed useful for monitoring the FFLP, or required by the AFC or the director.
(B) Upon a request by the director, a representative of the ODA shall personally visit, observe, and evaluate farm operations managed by loan recipients participating in the FFLP. For each visit made, the representative shall prepare and present to the director a written report stating the date and time of the visit, the location of the farm business visited, the persons with whom the representative spoke during the visit, the purpose of the visit, the general condition of the farm business for which the FFLP loan was made, any progress being made by the loan recipient in developing and advancing the farm business for which the FFLP loan was made, any significant problems encountered with the farm business for which the FFLP loan was made, and a general summary of the manner in which the loan recipient is applying loan funds to, and managing, the farm business for which the FFLP loan was made. The representative’s report shall be given to the director no later than fourteen days following completion of the representative’s visit to an FFLP loan recipient’s farm business, and a copy of the report shall be sent to the loan recipient.
HISTORY: Eff 8-7-98
Rule promulgated under: RC Chapter 119.
Rule authorized by: RC 901.82(A)(8)
Rule amplifies: RC 122.011, 901.81, 901.82
R.C. 119.032 Review Date: 07-29-2003
(A) Prior to entering into an FFLP loan agreement with an applicant, the lending institution shall determine:
(1) Whether the location at which the applicant proposes to use financial assistance provided under the program is in an area in which agriculture is the primary land use at the time the application is made; and,
(2) Whether the land at that location reasonably may not be expected to be converted to a nonagricultural use during the period of time that the applicant’s obligation to repay the loan remains outstanding.
(B) In making its determinations under paragraph (A) of this rule, a lending institution shall use, but not be limited to, all of the following criteria:
(1) Existing zoning restrictions;
(2) Actions pending before relevant zoning authorities;
(3) Plans and other relevant matters pending before regional planning commissions;
(4) Recommendations for land use and approval of land use by regional planning commissions;
(5) Ordinances and resolutions in effect within, and pending before, local government authorities;
(6) Eminent domain proceedings, planned or in process;
(7) Actions pending against the land by local authorities;
(8) Existing and planned easements upon the land;
(9) Deed conditions and restrictions;
(10) Pending court cases, including probate court cases;
(11) Tax and other liens;
(12) Mortgages and mortgage conditions;
(13) Planned, pending, and started development within a five mile radius of the property;
(14) The existence and type of non-farm land usage within a five mile radius of the property;
(15) Planned and started county engineer and utility projects;
(16) Whether or not the land is within, or is eligible to be within, an agricultural district; and
(17) Whether it is possible for the land to be valued, for real property tax purposes, at its current agricultural use value (C.A.U.V.).
(C) A lending institution may add up to one hundred dollars to the principal amount of an FFLP loan as a cost for making required determinations under paragraph (B) of this rule.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 901.82
Prior Effective Dates: 8/7/98
(A) Any lending institution which is certified to conduct business in the state of Ohio and which desires to participate in the FFLP must enter into and sign a letter of commitment pursuant to paragraph (D) of rule 901:3-63-16 of the Administrative Code.
(B) Within three working days of completion and approval of an FFLP loan application, a participating lending institution shall submit the following items to the OFI, for loan application servicing:
(1) All lending institution completed loan application forms and all related documents, attachments, and exhibits;
(2) Completed form ODA RFGA1, applicant’s request for guarantee application;
(3) Completed form ODA PPS1, applicant’s family farm loan guarantee program project summary;
(4) Completed form ODA DAE 1, demonstration of applicant eligibility;
(5) All other documents, correspondence, exhibits and items related to the loan, loan conditions, realty and personalty covered by the loan application; to applicant’s plan and management strategy; and to applicant’s ability to repay the loan
(C) After submittal of a loan application to the OFI, a participating lending institution shall provide to the OFI all information and assistance required for adequate and appropriate servicing of the loan.
(D) Where required, and following transmittal of an FFLP loan application from the OFI to the director, a participating lending institution shall provide to the director and the AFC all information and assistance required for adequate and appropriate review of and decision upon the loan application.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 901.81, 901.82
Prior Effective Dates: 8/7/98
(A) Within ten working days of receipt of an FFLP loan application from a participating lending institution, the OFI shall process the loan application and shall forward the processed application, in a package to include all documentation received from the lending institution and all documentation added to the application file by the OFI, to the director.
(B) At the time that it forwards an FFLP loan application to the director, the OFI shall notify the lending institution and the applicant that it has so forwarded the application.
(C) In the event that an FFLP loan application cannot be processed by the OFI pursuant to the requirements of paragraph (A) of this rule, the OFI shall:
(1) Notify the lending institution and the applicant that it cannot process the loan application as received and request in writing all information and action needed from the lending institution and/or the applicant to complete processing of the application; and
(2) Notify the director that the loan application cannot be processed as received by the OFI and provide to the director copies of all written requests made pursuant to paragraph (C)(1) of this rule.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 901.82
Prior Effective Dates: 8/7/98
(A) Upon receiving an application for financial assistance under the FFLP from the DOD, the director shall create and maintain a complete file unit for each application received and shall process each such application by:
(1) Designating and maintaining a central location for keeping and filing all such applications;
(2) Assuring that each application file is complete and contains all documents and forms required for processing by the AFC and the making of a determination for or against a loan application by the director;
(3) Maintaining the application file unit in such a manner as to assure ease of access to, and updating of, files for purposes of review of applications by the AFC and determinations made upon applications by the director; and
(4) Forwarding applications to the AFC in a timely manner pursuant to the requirements of rule 901:3-63-17 of the Administrative Code, so as to assure the quickest possible review of loan applications by the AFC.
(B) The director shall establish and maintain a family farm loan program loan application docket and shall record upon the docket all information, forms and documents received and sent for each loan application, and all actions taken upon each loan application, and the relevant dates thereof. A separate docket sheet shall be maintained for each loan application. Each docket sheet shall contain at the top of the sheet the name of the loan applicant, the ODA loan application number, and any other information deemed useful or appropriate by the director.
(C) To facilitate the processing of loan applications under the FFLP, the director may designate or appoint any ODA employees, or may request the services of and direct any appropriate personnel within the Ohio department of development, for purposes of such processing.
(D) The director shall execute a letter of commitment with each lending institution which desires to participate in the FFLP for purposes of making FFLP loans to applicants. The letter of commitment shall be executed on ODA form ODA LOC1.
(E) The director shall establish and maintain a list of lending institutions which are eligible to participate in the FFLP. The list shall contain the following information:
(1) All known eligible institutions within the state of Ohio;
(2) Names of all institutions which have expressed an interest in participating in the FFLP;
(3) Names of all institutions which in fact have participated or are participating in the FFLP;
(4) For each institution listed pursuant to paragraph (E)(3) of this rule, the current total of all funds guaranteed to that institution from the family farm loan fund maintained by the treasurer of the state of Ohio.
(5) Each institution for which the total amount of loan guarantees provided to the institution has reached five hundred thousand dollars.
(F) The OFI shall provide all information and assistance necessary to assist the director in the maintenance of the list required under rule 901:3-63-16 of the Administrative Code.
HISTORY: Eff 8-7-98
Rule promulgated under: RC Chapter 119.
Rule authorized by: RC 901.82(A)(8)
Rule amplifies: RC 901.63, 901.80, 901.81, 901.82, 901.83
R.C. 119.032 Review Date: 07-29-2003
(A) The AFC shall meet on the first Monday of each month as required at the Ohio department of agriculture (ODA) headquarters, 8995 East Main Street, Reynoldsburg, Ohio, and shall at such meetings:
(1) Make recommendations to the director about financial assistance applications made pursuant to the family farm loan program (FFLP); and
(2) Advise the director in the administration of the FFLP.
(B) A quorum of five members of the AFC must be present for any such meeting to be called to order and to conduct any business related to the FFLP.
(C) Prior to each meeting of the AFC for purposes of paragraph (A) of this rule, the director shall prepare an agenda for the AFC to follow at the meeting. The agenda shall at a minimum list the applicant’s name and ODA loan application number for each loan application scheduled for review by the AFC at the meeting. All completed loan applications received by the director up to seven working days prior to any meeting of the AFC convened pursuant to paragraph (A) of this rule shall be placed upon the agenda for that meeting. Completed loan applications shall appear on each agenda in the order in which they were received and docketed by the ODA.
(D) The director shall organize all documents and items related to each loan application package sent to the director by the Ohio department of development (DOD) into one contiguous and complete file unit. Each file unit shall contain, but not be limited to, at least the following information, items and documents:
(1) Applicant’s request for guarantee application, form no. ODA RFGA 1;
(2) Applicant’s family farm loan guarantee program projects summary, form no. ODA PPS1;
(3) All other forms, documents and items forwarded to the director by DOD, including all forms, documents and items submitted to DOD by the participating lending institution;
(4) All application-related documents produced by the director; and
(5) Any other information deemed pertinent to the loan application by the director.
(E) At least seven working days prior to any meeting of the AFC for purposes of paragraph (A) of this rule, the director shall provide to each member of the AFC a copy of the complete file unit for each loan application listed on the agenda for that meeting. The director may summarize in standard and consistent form lengthy documents and financial forms contained in each complete file unit for initial provision of file information to the AFC. In all cases, however, the complete file unit for each loan application appearing on an AFC agenda shall be physically available to the AFC during any meeting based upon that agenda.
(F) During any meeting of the AFC for purposes of paragraph (A) of this rule, the AFC shall consider, discuss, and make recommendations upon each loan application placed on the meeting agenda. As a basis for its final recommendation for or against a loan application, the AFC shall use information contained in the complete file unit for the application, as such file unit was transmitted to the AFC by the director.
(G) Prior to or at any meeting of the AFC held pursuant to paragraph (A) of this rule, the director may provide to members of the AFC any pertinent information relating to any loan application on the meeting agenda and received by the director after distribution of an application’s complete file unit under paragraph (D) of this rule.
(H) The AFC shall review each loan application file for each application placed upon the agenda for any meeting held pursuant to paragraph (A) of this rule and, by a majority vote of members present at such a meeting, shall vote “yes” or “no” to the following question posed for each application: “shall the agricultural financing commission recommend this loan application to the director of agriculture for participation in the family farm loan program?”
(I) Following each meeting of the AFC conducted pursuant to paragraph (A) of this rule, the chairperson of the AFC shall complete ODA form AFC LR1, “family farm loan program recommendations to director of agriculture,” for each loan application appearing on the agenda at such meeting.
(J) Following each meeting of the AFC conducted pursuant to paragraph (A) of this rule, the chairperson of the AFC shall return each complete file unit for each loan application placed upon the agenda for the meeting to the director. A completed ODA form AFC LR1 shall be affixed to the front cover of each returned file unit.
(K) If for any reason the AFC is unable to act upon a loan application placed upon the agenda for a meeting conducted pursuant to paragraph (A) of this rule, the chairperson of the AFC shall prepare and affix to the cover of that loan application’s file unit a brief explanation of, or reason for, the AFC’s inability to take action upon that application during the meeting. The complete file unit for the loan application, along with a completed ODA form AFC LR1, shall then be returned to the director.
(L) For each file unit returned pursuant to paragraph (K) of this rule, the director shall take all reasonable action required to conform the file unit to the needs of the AFC and to insure action on the file by the AFC. The director shall then place the application upon the agenda for the next AFC meeting scheduled under paragraph (A) of this rule and following the meeting at which the AFC was unable to take action upon, or to make a recommendation upon, the loan application. Thereafter, the AFC will act upon the loan application and return the loan application to the director pursuant to paragraph (J) of this rule.
HISTORY: Eff 8-7-98
Rule promulgated under: RC Chapter 119.
Rule authorized by: RC 901.82(A)(8)
Rule amplifies: RC 901.63, 901.82
R.C. 119.032 REVIEW DATE: 07-29-2003
(A) Within five working days of receipt of the AFC’s recommendations upon a loan application pursuant to the requirements of rule 901:3-63-17 of the Administrative Code, the director shall make a final determination to approve or not to approve the loan application.
(B) In making his final determination to approve or not to approve a loan application, the director shall take all of the following into consideration:
(1) Completed ODA form AFC LR1 returned by the AFC;
(2) The overall contents of the loan application complete file unit;
(3) All criteria for reviewing, evaluating, and ranking a loan applications set forth in rule 901:3-63-11 of the Administrative Code.
(4) Lending institution and DOD recommendations related to the loan application;
(5) The availability of funds in the family farm loan fund at the time the application is under consideration by the director;
(6) Any relevant information received by the director following review and return of the loan application by the AFC; and
(7) Any other information determined by the director to bear upon the loan application itself, the conformance of the loan application to the overall intent of the FFLP, and/or the impact of approval of the loan application upon the security and integrity of the family farm loan fund.
(C) The director shall record his determination to approve or not to approve the loan application on form ODA DRD1 and shall place the original and two copies of said form in the loan application’s complete file unit.
(D) Within three working days of the date of his determination to approve or not to approve an FFLP loan application, the director shall send copies of his completed form ODA DRD1 to the loan applicant, the chairperson of the AFC, DOD, and the appropriate lending institution. Such copies of form ODA DRD1 shall be accompanied by the director’s statement informing recipients of form ODA DRD1 that approved loan applications will be forwarded to the controlling board for its review and decision whether to approve the release of money for financial assistance to the loan applicant, and that release of funds from the family farm loan fund for purposes of the FFLP guaranteed portion of the loan application is contingent upon the approval of the release of money from the family farm loan fund by the controlling board.
HISTORY: Eff 8-7-98
Rule promulgated under: RC Chapter 119.
Rule authorized by: RC 901.82(A)(8)
Rule amplifies: RC 122.011, 901.81, 901.82, 901.83
R.C. 119.032 REVIEW DATE: 07-29-2003
(A) Within five working days of rendering a determination pursuant to the requirements of paragraph (A) of rule 901:3-63-17 of the Administrative Code, the director shall transmit his determination to approve assistance under the FFLP to the controlling board. For purposes of such transmittal, the director shall:
(1) Transmit completed form ODA DRD1 and any other appropriate documents for each such loan application to the controlling board; and
(2) Determine all other information required by the controlling board for each loan application submitted by the director, and prepare and transmit such information to the controlling board immediately upon final preparation of the information.
(B) All notification from the controlling board to the director concerning controlling board action upon, or disposition of, each loan application submitted to the board by the director shall be listed upon the ODA loan application docket pursuant to paragraph (B) of rule 901:3-63-16 of the Administrative Code and shall be added to the loan application’s file unit.
HISTORY: Eff 8-7-98
Rule promulgated under: RC Chapter 119.
Rule authorized by: RC 901.82(A)(8)
Rule amplifies: RC 901.82, 901.83
R.C. 119.032 REVIEW DATE: 07-29-2003
Upon receipt by the director of notification from the controlling board that the board has reviewed an FFLP loan application and has decided either to approve or to disapprove the release of money from the family farm loan fund for financial assistance sought by the loan application, the director shall place the original and two copies of said notice in the loan application’s file unit. Within three working days of receipt of such notice, the director shall send copies of the notice to the loan applicant, the chairperson of the AFC, DOD, the lending institution, and any other appropriate persons, offices, or institutions involved in processing the loan application.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 901.82, 901.83
Prior Effective Dates: 8/7/98
(A) Upon receipt by the director of notification from the controlling board that the board has received an FFLP loan application and has approved release of money from the family farm loan fund for financial assistance sought by that application, the director shall enter into a contract of guarantee which establishes the terms of the guarantee with the loan application lending institution.
(B) Form ODA COG1 shall contain the terms of any contract of guarantee between the director and any lending institution participating in the FFLP. Form ODA COG1 shall be the only authorized document upon which a contract of guarantee between the director and any participating lending institution may be executed.
(C) Following execution of an FFLP contract of guarantee, the director shall docket the executed contract and place the original and two copies of the contract in the appropriate ODA loan application file unit. The director shall forward a copy of the contract of guarantee to the appropriate lending institution, to DOD, and to the applicant.
(D) The director shall enter into a contract of guarantee for an FFLP loan only when the guaranteed portion of the loan, committed from the family farm loan fund, is forty per cent or less of the original unamortized principal portion of the loan.
(E) In no event shall the director enter into a contract of guarantee for an FFLP loan when total funds committed from the family farm loan fund will exceed two hundred thousand dollars.
(F) In any action or process pursuant to section 901.83 of the Revised Code, whether legal, administrative, or otherwise, in which the director is named as a party, the director of the Ohio DOD shall also be named as a party. Should the director of the Ohio DOD not be so named as a party, the director of agriculture shall seek joinder of the director of DOD as a defendant, third party defendant, or as an appropriate additional party in such action or process.
(G) The lending institution shall provide the borrower with a copy of the completed contract of guarantee with an appropriate notice of the borrower’s obligations contained in the contract.
HISTORY: Eff 8-7-98
Rule promulgated under: RC Chapter 119.
Rule authorized by: RC 901.82(A)(8)
Rule amplifies: RC 122.011, 901.82, 901.83
R.C. 119.032 review date: 07-29-2003
(a) The director shall develop and publish a brochure which describes the existence of the FFLP, the type of financial assistance available under the FFLP, and the procedures which applicants must follow to apply for assistance under the program.
(b) The director shall distribute the FFLP brochure on or before the first day of September of each year in which the FFLP remains in existence and the family farm loan fund is continued and adequately funded.
(c) Distribution of the FFLP brochure by the director shall constitute only a distribution of information about the FFLP and the family farm loan fund and shall be neither an invitation to apply for an FFLP loan nor a guarantee that any applicant shall be approved for, or shall receive, such a loan.
(d) The director shall distribute the FFLP brochure to any organizations and persons whom the director chooses including, but not limited to, the following:
(1) Eligible banks which make FFLP loans;
(2) Organizations that represent farmers and agricultural interests in Ohio;
(3) Ohio joint vocational schools;
(4) Other state and local agencies and offices with interests in farming, including but not limited to the Ohio environmental protection agency, the Ohio department of natural resources, farm bureaus, the rural rehabilitation commission; and
(5) Appropriate state universities and extension service offices.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 901.82
Prior Effective Dates: 8/7/98
(A) The director shall enter the completion date of the annual report required by division (A)(7) of section 901.82 of the Revised Code upon the FFLP docket and shall place three copies of the report on file with the FFLP loan application file units.
(B) Within ten working days of the completion date of the annual report, and no later than the thirteenth day of june of each year, the director shall distribute the annual report pursuant to the requirements of division (A)(7) of section 901.82 of the Revised Code. In addition, the director shall distribute copies of the annual report to all parties listed in paragraph (D) of rule 901:3-63-22 of the Administrative Code, to all members of the AFC, to the director of the Ohio DOD, to all lending institutions participating in the FFLP on the completion date of the report, and to any other organizations or persons determined by the director to be appropriate recipients of the report.
(C) The director shall compile and maintain a distribution list for each annual distribution of the report.
R.C. 119.032 review dates: 08/13/2003 and 08/13/2008
Promulgated Under: 119.03
Statutory Authority: 901.82
Rule Amplifies: 122.011, 901.82
Prior Effective Dates: 8/7/98
(A) Committee meetings
(1) Regular meetings of the agricultural finance committee shall be held on the last Thursday of every month provided that there is business to be placed on the agenda. Any person shall be able to obtain notice of regular, special and emergency meetings in accordance with paragraph (B) of this rule.
(B) Notice of meetings
(1) Adequate notice of each meeting shall be given to each member of the board. Notice of the date, starting time and location of a regularly scheduled committee meeting will be posted on the Ohio department of agriculture’s web site and in Gongwer at least ten days in advance of all regularly scheduled meetings.
(2) Notice of special and emergency meetings
Notice of date, time, place, and purpose of a special meeting shall be placed in Gongwer, on the department’s website and sent to media outlets that requested such information, at least twenty-four hours prior to said meeting. Notice of date, time, location and purpose of all emergency meeting shall be given to all news media who requested prior notification, published in Gongwer, and on the department’s website.
(3) Any person may obtain prior notice of the date, time, and location of any regularly scheduled, special, emergency, or any of the aforementioned meetings when a particular type of business is to be discussed by requesting prior notification in writing from the “Ohio Department of Agriculture, Office of Rural Development, 8995 East Main Street, Reynoldsburg, Ohio 43068; or by calling the Rural Development Office at (614) 728-4937.”
HISTORY: Eff 8-25-03
Rule promulgated under: RC 119.03
Rule authorized by: RC 121.22(F), 901.61
Rule amplifies: RC 901.61
R.C. 119.032 review dates: 08/25/2008