348.230. Linked deposit loans for dairy cows, first year of interest to be paid by authority--fee authorized. - Missouri Statutes

Linked deposit loans for dairy cows, first year of interest to be paidby authority--fee authorized.

348.230. 1. The Missouri agricultural and small business developmentauthority, subject to appropriation, shall pay for the first full year ofcharged interest on any applicable Missouri linked deposit program loan, asprovided in sections 30.750 to 30.850, RSMo. For the purpose of thissection, the term "applicable loan" shall mean any loan made and usedsolely for the acquisition of dairy cows and other replacement dairyfemales.

2. The Missouri agricultural and small business development authoritymay charge a fee for the service in subsection 1 of this section, not toexceed fifty dollars per individual. Revenue generated from the fee shallbe used to defray administrative costs.

(L. 2008 S.B. 931)