North Dakota Code 17-03-01 – Definitions
In this chapter, unless the context or subject matter otherwise requires:
Terms Used In North Dakota Code 17-03-01
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
1. “Biodiesel production facility” means a producer of a fuel composed of mono-alkyl esters of long chain fatty acids derived from vegetable oil or animal fats that meets American society for testing and materials specification D 6751. The facility must be located in this state.
2. “Biofuel partnership in assisting community expansion fund” or “fund” means a fund established to buy down the interest rate on loans to biodiesel, ethanol, and green diesel production facilities and to value-added operations as provided under this chapter.
3. “Ethanol production facility” means a producer of agriculturally derived denatured ethanol that is suitable for blending with a petroleum product for use in internal combustion engines. The facility must be located in this state.
4. “Green diesel production facility” means a producer of a fuel produced from nonfossil renewable resources, including agricultural or silvicultural plants, animal fats, residue, and waste generated from the production, processing, and marketing of agricultural products, silvicultural products, and other renewable resources, which meets applicable American society for testing and materials specifications. The facility must be located in this state.
5. “Value-added operation” includes a producer that engages in dairy and milking or feeding of animals or poultry which enhances the value before sale into the marketplace.