348.400. Definitions.

325 words·~1 min read·/mo/chapter-348/348-400

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348.400. Definitions. — As used in sections 348.400 to 348.415 , the following terms mean:

(1)"Agricultural business development loan" , a loan for the acquisition, construction, improvement, or rehabilitation of agricultural property, or for the expansion, acquisition, construction, improvement, or rehabilitation of a qualifying agribusiness;

(2)"Agricultural product" , an agricultural, horticultural, viticultural, or vegetable product, growing of grapes that will be processed into wine, bees, honey, fish or other aquacultural product, planting seed, livestock, a livestock product, a forestry product, poultry or a poultry product, either in its natural or processed state, that has been produced, processed, or otherwise had value added to it in this state;

(3)"Agricultural property" , any land and easements and real and personal property, including, but not limited to, buildings, structures, improvements, and equipment which is used in Missouri by Missouri residents or Missouri-based businesses for the purpose of processing, manufacturing, marketing, exporting or adding value to an agricultural product. Agricultural property also includes any land and easements and real and personal property, including, but not limited to, buildings, structures, improvements, equipment and plant stock used for the growing of grapes which will be processed into wine;

(4)"Authority" , the Missouri agricultural and small business development authority;

(5)"Eligible borrower" , as defined in section 348.015 ;

(6)"Eligible lender" , lender as defined in section 348.015 ;

(7)"Fund" , the agricultural product utilization and business development loan guarantee fund or the agricultural product utilization grant fund;

(8)"Grant fund" the agricultural product utilization grant fund;

(9)"Program fund" , the agricultural product utilization and business development loan program fund;

(10)"Qualifying agribusiness" , any business whose primary customer base is producers of agricultural goods and products or any business whose function is the support of agricultural production or processing by providing goods and services used for producing or processing agricultural products.

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(L. 1997 H.B. 557, A.L. 1998 H.B. 950, A.L. 2011 S.B. 161)