Terms Used In Montana Code > Title 80 > Chapter 11 > Part 5 - Agricultural Commodity Research and Market Development

• 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. See Montana Code 80-11-503
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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. See 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
• Conviction: A judgement of guilt against a criminal defendant.
• 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
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• 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
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
• 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
• Quorum: The number of legislators that must be present to do business.
• Sale: includes any mortgage or pledge of agricultural commodities to a person, public or private. See Montana Code 80-11-503
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
• Trustee: A person or institution holding and administering property in trust.