Terms Used In Montana Code > Title 90 > Chapter 9 - Agriculture Development

• Act: means the Montana Growth Through Agriculture Act. See Montana Code 90-9-103
• Agricultural business: means an enterprise engaged in the production, processing, marketing, distribution, or exporting of agricultural products. See Montana Code 90-9-103
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Company: means a natural person, firm, partnership, corporation, association, or other entity authorized to conduct business in the state. See Montana Code 90-9-103
• 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.
• Council: means the Montana agriculture development council established in 2-15-3015. See Montana Code 90-9-103
• Department: means the department of agriculture established in 2-15-3001. See Montana Code 90-9-103
• Educational loan: means a loan made pursuant to a federal loan program, except for a federal parent loan for undergraduate students (PLUS) loan, as provided in 20 U. See Montana Code 90-9-103
• Educational loan servicer: means an entity that engages for compensation or gain from another or on its own behalf, in the business of:

  (a)receiving any scheduled periodic payments from a borrower pursuant to the terms of an educational loan;

  (b)applying the payments of principal and interest and other payments with respect to the amounts received from a borrower, as may be required pursuant to the terms of an educational loan; and

  (c)performing other administrative services with respect to an educational loan. See Montana Code 90-9-103

• Farmer: means a person who:

  (a)is engaged in agricultural activities, including ranching, at a farm;

  (b)participates in the day-to-day operations of a farm; and

  (c)is the primary owner of an agricultural operation, including an heir, a successor, or an assignee of the operation. See Montana Code 90-9-103

• Federal loan program: has the meaning provided in 20-4-502. See Montana Code 90-9-103
• Matching funds: means the funds received by the loan or grant recipient from private, federal, state, or commodity checkoff funds and contributed by the recipient in support of a loan or grant application in an amount that is at least equal to the funds disbursed to the recipient by the council. See Montana Code 90-9-103
• 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: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• 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
• Property: means real and personal property. See Montana Code 1-1-205
• State: means the state of Montana. See Montana Code 90-9-103