SEC. 69-2-9. Definitions.
For the purposes of Sections 69-2-7 through 69-2-41, the following words shall have the meanings ascribed in this section unless the context otherwise requires:
(a) "Department" means the Mississippi Department of Economic and Community Development.
(b) "Emerging crop" means any new, nontraditional plant or animal crop (as designated by a board consisting of the executive directors of the department, the Mississippi Cooperative Extension Service and the Mississippi Agricultural and Forestry Experiment Station) or as specified in Section 69-2-11 which has a development time from beginning of production to harvest or initial sale of the product of not more than five (5) years.
(c) "Farmer" means a resident of Mississippi who engages in or wishes to engage in the commercial production of an emerging crop on land in Mississippi. This term shall include individuals, partnerships and corporations.
(d) "Fund" means the Emerging Crops Fund established in Section 69-2-13.
(e) "Interest loan" means a loan made from the fund to pay the interest on a loan made by a lender to a farmer to finance the nonland capital costs of establishing production of an emerging crop.
(f) "Lender" means a commercial bank, savings bank, savings and loan association, federal land bank, farm credit bank, production credit association or other farm credit agency which is domiciled or qualified to do business in Mississippi, or the Farmers Home Administration.
(g) "Agribusiness" means any agricultural, aquacultural, horticultural, industrial, manufacturing, research and development or processing enterprise or enterprises.
SOURCES: Laws, 1987, ch. 482, Sec. 5; 1988, ch. 356, Sec. 1; 1988, ch. 580, Sec. 18; 1990, ch. 570, Sec. 17, eff from and after July 1, 1990. Laws, 1996, ch. 415, Sec. 1, eff from and after passage (approved March 25, 1996)