Okla. Stat. tit. 2, § 2-5-82
This is the official text of Okla. Stat. tit. 2, § 2-5-82, part of Oklahoma’s Stat. tit. 2, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 2,." Browse the sections below, each linked to its official government source.
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Definitions
Official statutory text
As used in the Oklahoma Agricultural Linked Deposit Program:
1. "Agricultural domestic corporation" means any domestic
corporation formed or licensed pursuant to the Oklahoma General
Corporation Act or a limited domestic liability company formed or
licensed pursuant to the Oklahoma Limited Liability Company Act and
meeting the requirements of paragraph 5 of subsection A of Section
955 of Title 18 of the Oklahoma Statutes and meeting the
requirements of subsection A of Section 951 of Title 18 of the
Oklahoma Statutes;
2. "Agricultural linked deposit" means a certificate of deposit
placed by the State Treasurer with an eligible lending institution
or an investment in bonds, notes, debentures, or other obligations
or securities issued by the federal farm credit bank with regard to
an eligible lending institution for the purpose of carrying out the
intent of this program;
3. "Agricultural Linked Deposit Loan Package" means the forms
provided by the State Treasurer for the purpose of applying for an
agricultural linked deposit;
4. "Alternative agricultural products" means those products
included in a report submitted by the Cooperative Extension Service
of Oklahoma State University to the Oklahoma Department of
Agriculture, Food, and Forestry, and any other products which the
State Board of Agriculture determines will diversify Oklahoma's
agricultural industry so as to broaden Oklahoma's economic base, but
alternative agricultural products shall not mean medical marijuana
growing operations;
5. "An at-risk farm or ranch business" shall be one that seeks
a production loan and meets the following criteria:
a. at least sixty percent (60%) of gross income derived
from farming and/or ranching, and
b. a debt-to-asset ratio over forty percent (40%);
6. "Eligible agricultural business" means:
a. any person engaged in producing, processing, or
marketing alternative agricultural products,
b. any person who is establishing a veterinary practice
in which at least thirty percent (30%) of the practice
consists of services for large animals and the total
loan amount shall not exceed Two Hundred Fifty
Thousand Dollars ($250,000.00),
c. an at-risk farm or ranch business operating within the
State of Oklahoma, or
d. a healthy corner store as certified by the Oklahoma
Department of Agriculture, Food, and Forestry;
Oklahoma Statutes - Title 2. Agriculture Page 217
7. "Eligible lending institution" means a financial institution
that agrees to participate in the Oklahoma Agricultural Linked
Deposit Program, and:
a. is eligible to be a depository of state funds, or
b. is an institution of the farm credit system organized
under the federal "Farm Credit Act of 1971", 12 U.S.C.
2001, as amended; and
8. "Healthy corner store" means a grocery store certified by
the Oklahoma Department of Agriculture, Food, and Forestry pursuant
to rules adopted by the State Board of Agriculture that markets
locally grown fresh fruits and vegetables and nutritious foods and
for which the sale of beer and tobacco products constitutes less
than ten percent (10%) of its gross sales excluding gasoline and
other nongrocery products, such other requirements as may be
established in rules adopted by the State Board of Agriculture, and
that is located in a geographical area that is underserved by
grocery outlets meeting those requirements.
1. "Agricultural domestic corporation" means any domestic
corporation formed or licensed pursuant to the Oklahoma General
Corporation Act or a limited domestic liability company formed or
licensed pursuant to the Oklahoma Limited Liability Company Act and
meeting the requirements of paragraph 5 of subsection A of Section
955 of Title 18 of the Oklahoma Statutes and meeting the
requirements of subsection A of Section 951 of Title 18 of the
Oklahoma Statutes;
2. "Agricultural linked deposit" means a certificate of deposit
placed by the State Treasurer with an eligible lending institution
or an investment in bonds, notes, debentures, or other obligations
or securities issued by the federal farm credit bank with regard to
an eligible lending institution for the purpose of carrying out the
intent of this program;
3. "Agricultural Linked Deposit Loan Package" means the forms
provided by the State Treasurer for the purpose of applying for an
agricultural linked deposit;
4. "Alternative agricultural products" means those products
included in a report submitted by the Cooperative Extension Service
of Oklahoma State University to the Oklahoma Department of
Agriculture, Food, and Forestry, and any other products which the
State Board of Agriculture determines will diversify Oklahoma's
agricultural industry so as to broaden Oklahoma's economic base, but
alternative agricultural products shall not mean medical marijuana
growing operations;
5. "An at-risk farm or ranch business" shall be one that seeks
a production loan and meets the following criteria:
a. at least sixty percent (60%) of gross income derived
from farming and/or ranching, and
b. a debt-to-asset ratio over forty percent (40%);
6. "Eligible agricultural business" means:
a. any person engaged in producing, processing, or
marketing alternative agricultural products,
b. any person who is establishing a veterinary practice
in which at least thirty percent (30%) of the practice
consists of services for large animals and the total
loan amount shall not exceed Two Hundred Fifty
Thousand Dollars ($250,000.00),
c. an at-risk farm or ranch business operating within the
State of Oklahoma, or
d. a healthy corner store as certified by the Oklahoma
Department of Agriculture, Food, and Forestry;
Oklahoma Statutes - Title 2. Agriculture Page 217
7. "Eligible lending institution" means a financial institution
that agrees to participate in the Oklahoma Agricultural Linked
Deposit Program, and:
a. is eligible to be a depository of state funds, or
b. is an institution of the farm credit system organized
under the federal "Farm Credit Act of 1971", 12 U.S.C.
2001, as amended; and
8. "Healthy corner store" means a grocery store certified by
the Oklahoma Department of Agriculture, Food, and Forestry pursuant
to rules adopted by the State Board of Agriculture that markets
locally grown fresh fruits and vegetables and nutritious foods and
for which the sale of beer and tobacco products constitutes less
than ten percent (10%) of its gross sales excluding gasoline and
other nongrocery products, such other requirements as may be
established in rules adopted by the State Board of Agriculture, and
that is located in a geographical area that is underserved by
grocery outlets meeting those requirements.
Status: in_force · Read it on the official government site
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