Section 43-2A-2 - Limitations on foreign ownership-ExceptionsThe following provisions apply to the ownership or leasing of agricultural land in this state:
(1) A prohibited entity may not own agricultural land in this state;(2) A prohibited entity may not lease or hold an easement on agricultural land in this state, unless: (a) The lease is exclusively for agricultural research purposes and encumbers no more than three hundred and twenty acres; or(b) The lease is exclusively for contract feeding of livestock, at an animal feeding operation, by a family farm unit, a family farm corporation, or an authorized farm corporation;(3) Excluding a prohibited entity, a foreign entity, foreign government, or foreign person may not own more than one hundred and sixty acres of agricultural land in this state, provided this limitation does not include: (a) Agricultural land acquired by devise or inheritance; or(b) Agricultural land held as security for indebtedness; and(4) Excluding a prohibited entity, there is no restriction on easements or the number of acres of agricultural land that a foreign entity, foreign government, or foreign person may lease.This section does not apply to a foreign entity, foreign government, or foreign person whose right to hold land is secured by treaty.
SL 1979, ch 291, § 1; SL 2024, ch 176, §3.Amended by S.L. 2024, ch. 176,s. 3, eff. 7/1/2024.