Montana Code 80-11-503. Definitions
80-11-503. Definitions. As used in this part, unless the context requires otherwise, the following definitions apply:
Terms Used In Montana Code 80-11-503
- Commodity: means any agricultural crop, forage used by livestock, livestock, bird, fish, or value-added agricultural product that is grown or produced in or imported into Montana. See Montana Code 80-11-503
- 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.
- First purchaser: means a person, public or private, corporation, association, or partnership that buys, accepts for shipment, or otherwise acquires the property in or to agricultural commodities from a grower or producer. See Montana Code 80-11-503
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- 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.
- Person: means a natural person, individual, firm, partnership, association, corporation, company, or organized group of persons and any trustee, receiver, assignee, or similar representative. See Montana Code 80-11-503
- producer: means a person or landowner who is personally engaged in growing or producing agricultural commodities, a tenant of the landowner who is personally engaged in growing or producing commodities, or both the landowner and the tenant jointly. See Montana Code 80-11-503
- Property: means real and personal property. See Montana Code 1-1-205
- Sale: includes any mortgage or pledge of agricultural commodities to a person, public or private. See Montana Code 80-11-503
- Trustee: A person or institution holding and administering property in trust.
(1)”Advisory committee” means a committee created by the department under authority of 80-11-510 for the purpose of advising the department on the implementation and administration of a commodity research and market development program established in 80-11-512.
(2)”Commercial channels” means the sale of agricultural commodities for any use when sold to:
(a)a commercial buyer, dealer, processor, or cooperative;
(b)a person, public or private, who resells any agricultural commodity or product produced from crops grown in Montana; or
(c)a first purchaser in Montana.
(3)”Commodity” means any agricultural crop, forage used by livestock, livestock, bird, fish, or value-added agricultural product that is grown or produced in or imported into Montana.
(4)”First purchaser” means a person, public or private, corporation, association, or partnership that buys, accepts for shipment, or otherwise acquires the property in or to agricultural commodities from a grower or producer. The term includes a mortgagee, pledgee, lienor, or other person, public or private, that has a claim against a grower or producer, when the actual or constructive possession of a commodity is taken as part payment or in satisfaction of a mortgage, pledge, lien, or claim.
(5)”Grower” or “producer” means a person or landowner who is personally engaged in growing or producing agricultural commodities, a tenant of the landowner who is personally engaged in growing or producing commodities, or both the landowner and the tenant jointly. The term includes a person, partnership, association, corporation, cooperative, trust, sharecropper, and all other business units, devices, and arrangements.
(6)”Person” means a natural person, individual, firm, partnership, association, corporation, company, or organized group of persons and any trustee, receiver, assignee, or similar representative.
(7)”Sale” includes any mortgage or pledge of agricultural commodities to a person, public or private.