Kansas Statutes 75-4269. Same; definitions
As used in Kan. Stat. Ann. §§ 75-4268 through 75-4274, and amendments thereto: (a) “Agricultural production loan deposit” means an investment account placed by the director of investments under the provisions of article 42 of chapter 75 of the Kansas Statutes Annotated with an eligible lending institution for the purpose of carrying out the intent of this act;
(b) “agricultural production loan deposit loan package” means the forms provided by the state treasurer for the purpose of applying for an agricultural production loan deposit;
Terms Used In Kansas Statutes 75-4269
- Bank: means a bank incorporated under the laws of this state, or organized under the laws of the United States or another state and which has a main or branch office in this state. See Kansas Statutes 75-4201
- Board: means the pooled money investment board. See Kansas Statutes 75-4201
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Investment account: means a state bank account which is not payable on demand. See Kansas Statutes 75-4201
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Securities: means , for the purposes of this section and Kan. See Kansas Statutes 75-4201
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- Treasurer: means state treasurer. See Kansas Statutes 75-4201
(c) “eligible lending institution” means:
(1) A bank, as defined under Kan. Stat. Ann. § 75-4201, and amendments thereto, that agrees to participate in the Kansas agricultural production loan deposit program and is eligible to be a depository of state funds; or
(2) an institution of the farm credit system organized under the federal farm credit act of 1971 (12 U.S.C. § 2001), as amended, that agrees to participate in the Kansas agricultural production loan deposit program and provides securities acceptable to the pooled money investment board pursuant to article 42 of chapter 75 of the Kansas Statutes Annotated, and amendments thereto; and
(d) “eligible agricultural borrower” means any individual, limited liability agricultural company, limited agricultural partnership or family farm corporation as defined in Kan. Stat. Ann. § 17-5903, and amendments thereto, involved in farming.