Section 4-8-4 - New farmer applicants(a) When a new farmer applicant's qualifications are based on farming experience, the experience shall be relevant and contribute significantly towards the new farmer loan project.(b) New farmer applicants shall provide satisfactory proof of qualifications, including but not limited to, a diploma, college transcripts, and general excise tax license.(c) New farmer applicants shall authorize the department in writing to confirm the applicant's qualifications and any other information.(d) The new farmer applicant's equity contribution towards the cost of the project may be by means other than cash. Non cash equity contribution shall be reasonably valued and contribute significantly towards the project requirement as determined by the division. In accepting cash from loans as equity contribution, these loans shall be placed on standby and repayment shall require the approval of the department.[Eff 1/31/85; comp 9/20/86] (Auth: HRS § 155-4) (Imp: HRS § 155-10)