Sec. 18. 10 MRSA §986, sub-§4, as enacted by PL 1983, c. 519, §7, is amended to read:

4. Procure insurance. The authority may procure insurance from public or private entities against any loss in connection with its operations and property interests, including insurance for any loss in connection with any bonds or obligations held by it and any of its property or assets and for payment of any bonds or obligations issued by it. To the maximum extent possible, the authority shall use the mortgage loan insurance program established pursuant to subchapter II 2.

Sec. 19. 10 MRSA §997, sub-§2, śC, as amended by PL 1985, c. 344, §36, is further amended to read:

C. Mortgage Loan insurance for loans which that satisfy the following requirements:

(1) The lender must be a seller of agricultural land and other eligible collateral:

(a) Who is a natural person; or

(b) Which That is a family farm corporation;

(2) The borrower must be an entrant to natural resource enterprises;

(3) The loan must be made for the purpose of financing all or part of the purchase price of agricultural land and other eligible collateral; and

(4) The interest rate on the loan must be significantly less than the market interest rate, if required by the authority; and

Sec. 20. 10 MRSA §1023-D, sub-§3, as amended by PL 2001, c. 231, §3, is further amended to read:

3. Application of fund. Money in the fund may be applied to carry out any power of the authority under this section or under or in connection with section 1026-F 1026-A, subsection 1, paragraph A, subparagraph (1), division (b), including, but not limited to, to pledge or transfer and deposit money in the fund as security for and to apply money in the fund in payment of principal, interest and other amounts due on insured loans.