Louisiana Administrative Code › Title 7 - AGRICULTURE AND ANIMALS › Part V - Advertising, Marketing and Processing › Chapter 3 - Market Commission-Agricultural Products Processing Development Law-Loans and Loan Guaranties › Subchapter A - Authorization and Administration of Market Commission Loans and Loan Guaranties and Cooperative Endeavor Agreements under the Agricultural Products Processing Development Law › Section V-301 - Definitions

Current through Register Vol. 50, No. 6, June 20, 2024
Agricultural Plant
-any facility which
					 receives raw agricultural products for the purpose of rendering them suitable
					 for wholesale or retail marketing.
Agricultural Product
-any farm product or
					 seafood product.
Aquacultural Crop
-catfish, crawfish,
					 crabs, oysters, shrimp, prawns, alligators, turtles and other species of fish
					 that are spawned, grown, managed and harvested as a cultivated crop within
					 artificial reservoirs, tanks, cages or other impoundments so as to prevent at
					 all times the ingress and egress of fish life from public waters including
					 natural streams or lakes.
Cooperative Endeavor Agreements
-agreements
					 for a public purpose entered into by the State Market Commission with the
					 United States government or any of its agencies, or with a public or private
					 association, corporation or individual.
Farm Product
-any agronomic, horticultural,
					 silvacultural or aquacultural crop; any commercially raised livestock or raw
					 product derived therefrom; or any final derivative resulting from a combination
					 or breakdown of raw farm products.
Final Derivative
-any agricultural product
					 that is ready to be passed on to a marketing level.
Lender
-any bank, savings bank, mutual
					 savings bank, building and loan association, and savings and loan association
					 organized under the laws of Louisiana or the United States, trust companies
					 acting as fiduciaries, and other financial institutions subject to the
					 supervision of the commissioner of financial institutions.
Necessary Improvement
-any improvement to
					 an existing agricultural plant mandated by local, state or federal law, or an
					 improvement thereto which will form an economically justifiable basis and, in
					 the judgment of the market commission, improve the quality or quantity of
					 service, or both.
Person
-any individual, firm, corporation,
					 partnership or association domiciled in this state.
Process
or
Processing
-any
					 action that will enhance any raw agricultural product's value or render a raw
					 agricultural product suitable for further refinement or introduction at a
					 marketing level.
Property
-in the broad sense, any movable
					 and immovable property, corporeal and incorporeal and includes, but is not
					 limited to, land, buildings, equipment, inventory, accounts receivable,
					 credits, stocks, bonds, notes, patents, copyrights, royalties and other
					 intangibles of value.
Seafood Product
-any type of seafood
					 species caught in privately owned waters or public waters, including streams
					 and lakes, or any final derivative resulting from a combination or breakdown of
					 raw seafood products.
AUTHORITY NOTE:
					 Promulgated in accordance with R.S. 3:450.2 and R.S.
					 3:450.3.