348.518. Livestock feed and crop input loan guarantee program established--rulemaking authority. - Missouri Statutes

Livestock feed and crop input loan guarantee programestablished--rulemaking authority.

348.518. 1. In addition to the duties and powers established insections 348.005 to 348.505, the Missouri agricultural and small businessdevelopment authority shall develop and implement a livestock feed and cropinput loan guarantee program as provided in sections 348.515 to 348.533.The authority may promulgate rules necessary to carry out the purposes ofsections 348.515 to 348.533. The rules promulgated under sections 348.515to 348.533 shall be designed to encourage maximum involvement andparticipation by lenders and financial institutions in the loan guaranteeprogram. The authority shall be the administrative agency for theimplementation of the loan guarantee program, and may employ such personsas necessary, within the limits of appropriations made for that purpose, toadminister the loan guarantee program.

2. Any rule or portion of a rule, as that term is defined in section536.010, RSMo, that is created under the authority delegated in thissection shall become effective only if it complies with and is subject toall of the provisions of chapter 536, RSMo, and, if applicable, section536.028, RSMo. This section and chapter 536, RSMo, are nonseverable and ifany of the powers vested with the general assembly pursuant to chapter 536,RSMo, to review, to delay the effective date, or to disapprove and annul arule are subsequently held unconstitutional, then the grant of rulemakingauthority and any rule proposed or adopted after August 28, 2008, shall beinvalid and void.

(L. 2008 S.B. 931)