Terms used in article 12:07 mean:

1. (1) "Administrator," the administrator of the agriculture enterprise program;
2. (2) "Applicant," a person or an entity who applies for services provided by the agriculture enterprise program;
3. (3) "Borrower," all parties liable for the repayment of the loan proceeds or any part of the loan proceeds;
4. (4) "Farm or ranch," the term means a farming or ranching enterprise that is recognized in the community as a farm or ranch rather than a rural residence;
5. (5) "Farmer or rancher," an individual farmer or rancher or the spouse thereof, a farm or ranch laborer, or a member of a partnership or a corporation, as defined in SDCL 47-9A-14, who engages in the practice of farming or ranching on his own behalf or who manages or operates a farm or ranch;
6. (6) "Farming or ranching," the cultivation of land for the production of agricultural crops, trees, and forestry products, or other horticultural products or the ownership, keeping, or feeding of animals for the production of livestock or livestock products, to include aquaculture;
7. (7) "Livestock," cattle, bison, sheep, swine, poultry, goats, equine, ratites, captive cervidae as permitted under SDCL 40-3-14, and other species as requested by the applicant and authorized by the secretary;
8. (8) "Loan documentation," the primary legal documents used in making loans;
9. (9) "Office," the agriculture enterprise program, Governor's Office of Economic Development;
10. (10) "Commissioner," the commissioner of the Governor's Office of Economic Development;
11. (11) "Small or beginning farmer," a farmer or rancher that has minimal net worth, is under the age of 40 or has been farming less than 5 years.

Source: 17 SDR 141, effective March 25, 1991; 29 SDR 34, effective September 18, 2002 ; 45 SDR 31, effective September 13, 2018; SL 2019, ch 235, § 37 and 38, effective April 14, 2019 .

General Authority: SDCL 1-53-30 .

Law Implemented: SDCL 1-53-24 , 1-53-29 .

Prior versions effective: 2018-09-13, 2002-09-18.