348.015. Definitions.
Definitions.
348.015. As used in sections 348.005 to 348.225, the following termsshall mean:
(1) "Agricultural development loan", a loan for the acquisition,construction, improvement, or rehabilitation of agricultural property;
(2) "Agricultural property", any land and easements and real andpersonal property, including, but not limited to, buildings, structures,improvements, equipment, and livestock, which is used or is to be used inMissouri by Missouri residents for:
(a) The operation of a farm or ranch;
(b) Planting, cultivating, or harvesting cereals, natural fibers,fruits, vegetables, or trees;
(c) Grazing, feeding, or the care of livestock, poultry, or fish;
(d) Dairy production;
(e) Storing, transporting, or processing farm and ranch products,including, without limitation, facilities such as grain elevators, cottongins, shipping heads, livestock pens, warehouses, wharfs, docks,creameries, or feed plants;
(f) Supplying and conserving water, draining or irrigating land,collecting, treating, and disposing of liquid and solid waste, orcontrolling pollution, as needed for the operations set out in thissubdivision; and
(g) A vermiculture operation. For purposes of this paragraph,"vermiculture" means the raising of earthworms under a controlledenvironment;
(3) "Authority", the Missouri agricultural and small businessdevelopment authority organized pursuant to the provisions of sections348.005 to 348.180;
(4) "Bonds", any bonds, notes, debentures, interim certificates,bond, grant, or revenue anticipation notes, or any other evidences ofindebtedness;
(5) "Borrower", any individual, partnership, corporation, including acorporation or other entity organized pursuant to section 274.220, RSMo,firm, cooperative, association, trust, estate, political subdivision, stateagency, or other legal entity or its representative executing a note orother evidence of a loan;
(6) "Eligible borrower", a borrower qualifying for an agriculturaldevelopment loan, a small business development loan, or a small businesspollution control facility loan under such criteria and priorities as maybe established in rules of the authority or in procedural manuals issuedthereunder for the purpose of directing the use of available loan funds onthe basis of need for and value of each loan for the maintenance of theagricultural economy or small business and on the meeting of pollutioncontrol objectives and assuring conformity with conditions established byinsurers or guarantors of loans and the preservation of the security ofbonds or notes issued to finance the loan;
(7) "Insurer" or "guarantor", the Farmers Home Administration of theDepartment of Agriculture of the United States, the United States SmallBusiness Administration, or any other or successor agency orinstrumentality of the United States having power, or any insurance companyqualified under Missouri law, to ensure or guarantee the payment ofagricultural development loans, small business development loans, or smallbusiness pollution control facility loans and interest thereon, or anyportion thereof;
(8) "Lender", any state or national bank, federal land bank,production credit association, bank for cooperatives, federal orstate-chartered savings and loan association or building and loanassociation or small business investment company that is subject to creditexamination by an agency of the state or federal government, or any otherlending institution approved by the insurer or guarantor of an agriculturaldevelopment loan, small business development loan, or small businesspollution control facility loan which undertakes to make or service such aloan;
(9) "Pollution", any form of environmental pollution including, butnot limited to, water pollution, air pollution, land pollution, solid wastepollution, thermal pollution, radiation contamination, or noise pollution;
(10) "Pollution control facility" or "facilities", any land, interestin land, building, structure, facility, system, fixture, improvement,appurtenance, machinery, equipment, or any combination thereof, and allreal and personal property deemed necessary therewith, having to do with,or the end purpose of which is, reducing, controlling, or preventingpollution;
(11) "Small business", those enterprises which, at the time of theirapplication to the authority, meet the criteria, as interpreted and appliedby the authority, for definition as a "small business" established for theSmall Business Administration and set forth in Section 121.301 of Part 121of Title 13 of the Code of Federal Regulations;
(12) "Small business development loan", a loan for the acquisition,construction, improvement, or rehabilitation of property owned or to beacquired by a small business as defined herein;
(13) "Small business pollution control facility loan", a loan for theacquisition, construction, improvement, or rehabilitation of a pollutioncontrol facility or facilities by a small business;
(14) "Value-added agricultural products", any product or productsthat are the result of:
(a) Using an agricultural product grown in this state to produce ameat or dairy product in this state;
(b) A change in the physical state or form of the originalagricultural product;
(c) An agricultural product grown in this state whose value has beenenhanced by special production methods such as organically grown products;or
(d) A physical segregation of a commodity or agricultural productgrown in this state that enhances its value such as identity preservedmarketing systems.
(L. 1981 H.B. 681 § 3, A.L. 1994 H.B. 1248 & 1048, A.L. 1997 H.B. 557, A.L. 1998 H.B. 950, A.L. 2003 H.B. 289, A.L. 2006 H.B. 1739)