SECTION 385:10-1-15. Cancellation of application

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Failure of the applicant for a farm loan to comply with any departmental requirements within a reasonable time will be grounds for cancellation of application. If any loan is not completed within 12 months subsequent to date of departmental appraiser's report, through fault of the applicant, the application will become automatically cancel led and can only be reinstated by written application and reappraisal of the land and payment of cost thereof.

                    
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