(1) The assets may be used for the purpose of aiding in the development of substandard income rural families and individuals who live in the state of Montana. Applicants must be unable to provide the needed funds themselves, and unable to acquire them from other sources at reasonable rates and terms.(2) A loan committee shall be maintained within the department of agriculture to evaluate and act upon proposals received.NEW, 1977 MAR p. 942, Eff. 11/26/77; AMD, 2004 MAR p. 1469, Eff. 7/2/04.80-2-101 and 80-2-106, MCA; IMP, 80-2-102 and 80-2-103, MCA;