348.190. Loan guarantee program--rules, regulations, promulgation, procedure. - Missouri Statutes

Loan guarantee program--rules, regulations, promulgation, procedure.

348.190. In addition to the duties and powers established insections 348.005 to 348.180, the Missouri agricultural and small businessdevelopment authority shall develop and implement a single-purpose animalfacilities loan guarantee program as provided in sections 348.185 to348.225. The authority shall promulgate rules and regulations necessary tocarry out the purposes of sections 348.185 to 348.225. The rules andregulations promulgated pursuant to sections 348.185 to 348.225 shall bedesigned to encourage maximum involvement and participation by lenders andfinancial institutions in the loan guarantee program. The authority shallbe the administrative agency for the implementation of the loan guaranteeprogram, and may employ such persons as necessary, within the limits ofappropriations made for that purpose, to administer the loan guaranteeprogram. No rule or portion of a rule promulgated under the authority ofsections 348.185 to 348.225 shall become effective unless it has beenpromulgated pursuant to the provisions of section 536.024, RSMo.

(L. 1994 H.B. 1248 & 1048, A.L. 1995 S.B. 3)