Code of Maine Rules
01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY
001 - AGRICULTURE - GENERAL
Chapter 34 - RULES FOR OPERATION OF DAIRY IMPROVEMENT FUND
Section 001-34-II - Definitions

Universal Citation: 01 ME Code Rules ยง 001-34-II

Current through 2024-38, September 18, 2024

A. Dairy enterprise:The term "dairy enterprise" shall mean a person, persons or business, located in Maine, and engaged in the commercial production of cow milk or cow milk products.

B. Borrower: The term "borrower" shall mean the applicant and any related or affiliated individual or entity which shares assets, such as land, machinery and equipment or other property, with the applicant in connection with the applicant's dairy enterprise.

C. New and Innovative: The term "new and innovative," shall mean a method, process, machine or structure not previously developed, or if previously developed, not commonly utilized for the support of dairy agricultural production in Maine.

D. Private Funds: The term "private funds" shall mean equity in the form of cash and/or property of the applicant, including cash from loans subordinated to the DIF loan secured by assets not related to the project, or the value of services to be contributed to the project by the applicant, as determined and to be approved in advance by the Department.

E. Processing: The term "processing" shall mean changing the form of adairy product through the application of labor or materials or both.

F. Project: The term "project" shall mean the use to which the loan proceeds are to be put, as approved by the Commissioner.

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