Terms Used In Montana Code 90-9-503

• Council: means the Montana agriculture development council established in 2-15-3015. See Montana Code 90-9-103
• Educational loan: means a loan made pursuant to a federal loan program, except for a federal parent loan for undergraduate students (PLUS) loan, as provided in 20 U. See Montana Code 90-9-103
• Educational loan servicer: means an entity that engages for compensation or gain from another or on its own behalf, in the business of:

  (a)receiving any scheduled periodic payments from a borrower pursuant to the terms of an educational loan;

  (b)applying the payments of principal and interest and other payments with respect to the amounts received from a borrower, as may be required pursuant to the terms of an educational loan; and

  (c)performing other administrative services with respect to an educational loan. See Montana Code 90-9-103

• Farmer: means a person who:

  (a)is engaged in agricultural activities, including ranching, at a farm;

  (b)participates in the day-to-day operations of a farm; and

  (c)is the primary owner of an agricultural operation, including an heir, a successor, or an assignee of the operation. See Montana Code 90-9-103