Mississippi § 69-2-15 - Interest loans from Emerging Crops Fund.
Full text of Mississippi Mississippi Code of 1972 Annotated § 69-2-15 — Interest loans from Emerging Crops Fund., with citation guidance and answers to common questions.
§ 69-2-15. Interest loans from Emerging Crops Fund.
Any lender which has made a loan to a farmer to finance the nonland capital costs of establishing production of an emerging crop on land in Mississippi may make application to the department for payment of the interest on the loan during the period from beginning of production to harvest or initial sale of the product, which payment shall be made from the fund. The maximum amount of interest loans from the fund for the benefit of any one (1) farmer shall be Fifty Thousand Dollars ($50,000.00). During the period that the department pays the interest on a loan, the maximum rate of interest which may be charged on the loan by the lender shall be four percent (4%) per annum above the New York prime rate. By payment of the interest on a loan, neither the department nor the State of Mississippi shall be a guarantor of the loan, but the state shall have a lien junior to any lien that the lender may have on the loan. If a farmer defaults on the interest loan the Attorney General of the State of Mississippi shall take the necessary legal action, as soon as practicable, to recover the monies due and owing to the State of Mississippi. A suit against a defaulting party under this section may be brought in the county in which the lender is located, or in any Hinds County court.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 69-2-15
What does Mississippi Code of 1972 Annotated § 69-2-15 cover?
Section 69-2-15 ("Interest loans from Emerging Crops Fund.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 69-2-15?
A common citation format is "Mississippi Code of 1972 Annotated § 69-2-15" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 69-2-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.