CREDIT REVIEW BOARD
[Authorized: NDCC Section 6-09.10-02]
The Farm Credit Review Board was established in 1985 (S. L. 1985, Ch. 137) to provide assistance to financially distressed farmers. The board was given authority to negotiate with lenders on behalf of farmers and to provide interest subsidies to farmers eligible for qualified purchases, refinancing, or redemption of the farmer’s home quarter. The home quarter is the one hundred sixty acres that serves as the home base unit of a farm and upon which the farm residence and buildings are located.
Initially the Governor appointed three members to the Board. One member had experience in serving as a director or officer of a financial institution and two members had knowledge of and experience in farming operations. In order to serve on the Board potential candidates could not be employed in any capacity of state government while serving the board. The Governor appointed one member to act as chairman who called meetings as necessary to fulfill the Board’s duties. Subject to appropriations the board could hire negotiators who were responsible to work toward an agreement between a farmer and creditor. Each session the Board returned to the legislature for funding.
The Credit Review Board members originally served four year terms but in 1987 the length of the term was shortened to two years (S. L. 1987, Ch. 131) and other legislation changed the way the membership appointments were made. The Governor, Commissioner of Agriculture, and the Attorney General each appointed one member. Two were farmers and the third had to have experience as a director or officer of a financial institution. The Governor no longer appointed the chairman.
Also in 1987 the Legislature transferred the negotiation services to the Department of Agriculture and authorized the Commissioner of Agriculture to establish a Farm Credit Counseling Program that would disseminate information to farmers concerning farm credit problems and provide advice and counseling about credit problems. The commissioner appointed an administrator and hired a staff and negotiators to mediate between the farmer and creditors. The Credit Review Board continued to adopt policies governing the negotiators and staff and charged a fee for any assistance provided. The fees generated from this were used to continue the program. In 1989 (S. L. 1989, Ch. 109) the program name was changed from the Farm Credit Counseling Program to North Dakota Agricultural Mediation Service.
In 1993 the Board increased to six members (S. L. 1993, Ch. 42). The Governor and Attorney General each appointed one member with experience as an officer in a financial institution and one member actively engaged in farming. The Commissioner of Agriculture appointed two members actively engaged in farming. The members served two-year terms.
The duties of the Credit Review Board expanded and it was responsible for the Agricultural Mediation Service Program adopting written policies and governing negotiators and staff hired by the Commissioner of Agriculture. The Board also recommended policies and procedures to the Industrial Commission relating to the farm loan programs of the Bank of North Dakota and it recommended policies and procedures to the State Board of Vocational Education concerning the Adult Farm Management Program. The Board developed, administered, and participated in a grant program that gave farmers access to the farm diversification analytical system which was coordinated by the Adult Farm Management Program, the Agricultural Mediation Service, and the NDSU Extension Service.
Legislation removed the Credit Review Board from the responsibility of administering the grant program (S. L. 1995, Ch. 98). Other new legislation in 1995 allowed funds to be used for expenses, development, and implementing the Farm Management Delivery Systems in addition to maintaining a revolving fund for the subsidy of interest rates on home quarter purchases by the Bank of North Dakota [NDCC 6-09.11] (S. L. 1995, Ch. 98).
In the 2007 legislative session the Credit Review Board was no longer responsible for recommending policies and procedures for the Adult Management Program nor was it a participant in the Farm Management Delivery System. The Credit Review Board continued to retain all duties in administering the Agricultural Mediation Service Program and it also recommended policies and procedures to the Industrial Commission regarding the farm loan programs of the Bank of North Dakota (S. L. 2007, Ch. 99).
CHRONOLOGY
1985 Creation of the Farm Credit Review Board consisted of three gubernatorial appointees who served four-year terms (S. L. 1985, Ch. 137). The Governor, Attorney General, and the Commissioner of Agriculture each appointed one Board member. Terms shortened to two years. The Commissioner of Agriculture established newly created Farm Credit Counseling Program. The Credit Review Board adopted the policies for this program and the board, staff, and negotiators were exempt from liability charges (S. L. 1987, Ch. 131).
1989 Farm Credit Counseling program renamed Agricultural Mediation Service. The Credit Review Board sets fees and continued to provide the policies for this program (S. L. 1989, Ch. 109).
1991 Agricultural Mediation Service Program extended for two years. The Credit Review Board established fees and could charge fees to all who were involved during negotiation or mediation with a farmer (S. L. 1991, Ch. 93, Ch. 95).
1993 The Credit Review Board expanded to six members and was authorized to provide service for the newly created grant program established for the Farm Diversification Analytic System (S. L. 1993, Ch. 42 Ch. 82).
1995 Credit Review Board allocated the generated funds for the Farm Management Delivery Systems Program jointly developed between the Adult Farm Management Program, Agricultural Mediation Service, and the North Dakota State University Extension Service. Legislation removed the grant program (S. L. 1995, Ch. 98, Ch. 108).
1997 Credit Review Board served in an advisory capacity for the Adult Farm Management Program and participated in the Farm Management Delivery System (S. L. 1997, Ch. 49).
2001 The Legislature provided permanent funding for the Agricultural Mediation Service Program administered by the Credit Review Board (S. L. 2001, Ch. 102).
2003 Credit review board recommended policy for the Adult Farm Management Program and coordinated the Farm Management Delivery System (S. L. 2003, Ch. 138).
2007 Farm Management Program transferred to the newly created State Board of Career and Technical Education, previously called the State Board for Vocational and Technical Education, and also known as the State Board of Vocational Education (S. L. 1997, Ch. 49; S. L. 2007, Ch. 95).
Credit Review Board oversees policy for the Agricultural Mediation Service Program and recommends policies and procedures to the Industrial Commission regarding farm loan programs of the Bank of North Dakota (S. L. 2007, Ch. 95).
SERIES
31933 Farm Foreclosure Files.
SOURCES
North Dakota Boards and Commissions Credit Review Board Website.
North Dakota Century Code.
North Dakota Secretary of State Blue Book.
North Dakota State Legislature Session Laws.
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