§ 1835. Statement of legislative findings. The legislature hereby finds that agriculture is one of the largest industries in the state. The legislature has continuously acknowledged the importance of farming by establishing a variety of programs to promote a strong agricultural economy. Of particular importance to farmers and the rural economy is the health of […]
§ 1835-a. Definitions. As used or referred to in this subtitle, unless a different meaning appears from the context: 1. “Borrower” means the person, firm, partnership, corporation or other entity which receives a loan from a lender to pay the cost of a business project. 2. “Agricultural business project” means any land, any building or […]
§ 1835-b. Additional powers of the authority. The authority shall have the following additional powers only with respect to making loans to lenders for the purpose of financing loans for agricultural business projects pursuant to this subtitle: 1. To prescribe standards and criteria for the granting of applications for loans to lenders and for the […]
§ 1835-c. Loans to lenders. 1. The authority shall have the power and is hereby authorized to make and contract to make loans to lenders on such terms and conditions as it shall determine, and all lenders are authorized to borrow from the authority in accordance with the provisions of this section and upon such […]
§ 1835-d. Loans to lenders bonds and notes. 1. The authority shall have the power and is hereby authorized, for the purposes of this subtitle, to issue at one time or in series from time to time loans to lenders bonds and loans to lenders notes issued in anticipation of the issuance of such loans […]
§ 1835-e. State not liable on loans to lenders bonds and notes. The state shall not be liable on loans to lenders bonds and notes of the authority, and such bonds and notes shall contain on the face thereof a statement to that effect.
§ 1835-f. Loans to lenders funds. 1. The following shall constitute loans to lenders funds of the authority and shall be kept separate and apart from all other funds of the authority: (a) the proceeds of sale of loans to lenders bonds and notes hereafter issued, (b) any moneys appropriated and made available by the […]
