Louisiana Administrative Code
Title 7 - AGRICULTURE AND ANIMALS
Part V - Advertising, Marketing and Processing
Chapter 3 - Market Commission-Agricultural Products Processing Development Law-Loans and Loan Guaranties
Subchapter A - Authorization and Administration of Market Commission Loans and Loan Guaranties and Cooperative Endeavor Agreements under the Agricultural Products Processing Development Law
Section V-301 - Definitions

Agricultural Plant-any facility which receives raw agricultural products for the purpose of rendering them suitable for wholesale or retail marketing.

Agricultural Product-any farm product or seafood product.

Aquacultural Crop-catfish, crawfish, crabs, oysters, shrimp, prawns, alligators, turtles and other species of fish that are spawned, grown, managed and harvested as a cultivated crop within artificial reservoirs, tanks, cages or other impoundments so as to prevent at all times the ingress and egress of fish life from public waters including natural streams or lakes.

Cooperative Endeavor Agreements-agreements for a public purpose entered into by the State Market Commission with the United States government or any of its agencies, or with a public or private association, corporation or individual.

Farm Product-any agronomic, horticultural, silvacultural or aquacultural crop; any commercially raised livestock or raw product derived therefrom; or any final derivative resulting from a combination or breakdown of raw farm products.

Final Derivative-any agricultural product that is ready to be passed on to a marketing level.

Lender-any bank, savings bank, mutual savings bank, building and loan association, and savings and loan association organized under the laws of Louisiana or the United States, trust companies acting as fiduciaries, and other financial institutions subject to the supervision of the commissioner of financial institutions.

Necessary Improvement-any improvement to an existing agricultural plant mandated by local, state or federal law, or an improvement thereto which will form an economically justifiable basis and, in the judgment of the market commission, improve the quality or quantity of service, or both.

Person-any individual, firm, corporation, partnership or association domiciled in this state.

Process or Processing-any action that will enhance any raw agricultural product's value or render a raw agricultural product suitable for further refinement or introduction at a marketing level.

Property-in the broad sense, any movable and immovable property, corporeal and incorporeal and includes, but is not limited to, land, buildings, equipment, inventory, accounts receivable, credits, stocks, bonds, notes, patents, copyrights, royalties and other intangibles of value.

Seafood Product-any type of seafood species caught in privately owned waters or public waters, including streams and lakes, or any final derivative resulting from a combination or breakdown of raw seafood products.

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:450.2 and R.S. 3:450.3.