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H.B. 105 Enrolled

             1     

DEPARTMENT OF AGRICULTURE AND FOOD

             2     
AMENDMENTS

             3     
2009 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: John G. Mathis

             6     
Senate Sponsor: Dennis E. Stowell

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill expands the powers of the Department of Agriculture and Food in
             11      administering the rural rehabilitation program.
             12      Highlighted Provisions:
             13          This bill:
             14          .    allows the Department of Agriculture and Food to approve and make grants and
             15      loans to certain persons under the rural rehabilitation program.
             16      Monies Appropriated in this Bill:
             17          None
             18      Other Special Clauses:
             19          None
             20      Utah Code Sections Affected:
             21      AMENDS:
             22          4-19-2, as last amended by Laws of Utah 2007, Chapter 179
             23     
             24      Be it enacted by the Legislature of the state of Utah:
             25          Section 1. Section 4-19-2 is amended to read:
             26           4-19-2. Department authorized to approve and make grants and loans, acquire
             27      property, or lease or operate property.
             28          The department, in conjunction with the administration of the rural rehabilitation
             29      program, may:


             30          (1) approve and make [farm loans] a loan to a farm or agricultural cooperative
             31      association regulated under Title 3, General Provisions Relating to Agricultural Associations,
             32      subject to Section 4-19-3 , including:
             33          (a) taking security for the [loans] loan through [mortgages, trust deeds, pledges, or
             34      other security devices] a mortgage, trust deed, pledge, or other security device;
             35          (b) purchasing a promissory [notes] note, real estate [contracts, mortgages, trust deeds,
             36      or other instruments or evidences] contract, mortgage, trust deed, or other instrument or
             37      evidence of indebtedness; and
             38          (c) collecting, compromising, canceling, or adjusting [claims and obligations] a claim
             39      or obligation arising out of the administration of the rural rehabilitation program;
             40          (2) purchase or otherwise obtain property in which the [division] department has
             41      acquired an interest on account of [any] a mortgage, trust deed, lien, pledge, assignment,
             42      judgment, or other means at any execution or foreclosure sale; [and]
             43          (3) operate or lease, if necessary to protect its investment, [any] property in which it
             44      has an interest or sell or otherwise dispose of the property[.]; and
             45          (4) approve and make an education loan or an education grant to an individual for the
             46      purpose of attending a vocational school, college, or university to obtain additional education,
             47      qualifications, or skills.


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