Louisiana Administrative Code
Title 7 - AGRICULTURE AND ANIMALS
Part V - Advertising, Marketing and Processing
Chapter 23 - Market Commission- Acquisition of Facilities
Section V-2305 - Persons Eligible to Use, Rent, or Purchase Acquired Machinery, Equipment, or Facility
Universal Citation: LA Admin Code V-2305
Current through Register Vol. 50, No. 9, September 20, 2024
A. Any person who meets the criteria in this Section is eligible to apply to rent or purchase machinery, equipment, or facilities acquired by the commission.
B. The criteria for eligibility are as follows:
1. be authorized to do business in
this state;
2. maintain or agree to
maintain an operating facility in this state;
3. employ at least 20 full time employees or
the equivalent thereof;
4. be
engaged in the assembling, processing, storing, grading, distributing, or
marketing of farm products of this state;
5. have, or be able to obtain, financial
resources including operating capital sufficient to show an ability to operate
under normal condition for a period of at least one year;
6. be able to provide the commission with a
first mortgage, primary lien, or other first or primary security for the rent
or purchase of the machinery, equipment or facility.
AUTHORITY NOTE: Promulgated in accordance with R.S. 3:405.
Disclaimer: These regulations may not be the most recent version. Louisiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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