45. The Commission is authorized to grant loans, either directly or through the agency of municipal corporations or cooperative syndicates, for the cost of electrical installations on any farm susceptible of being served by a line constructed under this division.
The amount of the loan granted for any one farm shall not exceed three hundred dollars and the total loans outstanding at any time must not exceed one million dollars.
The Commission shall fix the rate of interest and the conditions upon which such loans may be granted. The period set for total repayment must not exceed ten years.
R. S. 1964, c. 86, s. 47.