La. Admin. Code tit. 7 § V-2305

Current through Register Vol. 50, No. 11, November 20, 2024

Section V-2305 - Persons Eligible to Use, Rent, or Purchase Acquired Machinery, Equipment, or Facility

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.

La. Admin. Code tit. 7, § V-2305

Promulgated by the Department of Agriculture and Forestry, State Market Commission, LR 33:422 (March 2007).

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:405.