Opinion No. 76-282 (1976) Ag

COMMISSIONERS OF LAND OFFICE — LIMITATIONS ON LOANS The Commissioners of the Land Office may not loan any one individual or family in excess of $80,000.00 and may not loan more than $200.00 per acre on any given tract of land. The Attorney General is in receipt of your letter wherein you request an opinion on the following questions: "1. May the Commissioners of the Land Office make farm mortgage loans in excess of $80,000.00? "2. May the Commissioners of the Land Office loan more than $200.00 per acre on security offered for farm mortgage loans?" Your letter further suggests that the…