Texas § AG.58.002 - DEFINITIONS

§ AG.58.002. DEFINITIONS

DEFINITIONS. In this chapter: (1) "Agricultural business" means: (A) a business that is or proposes to be engaged in producing, processing, marketing, or exporting an agricultural product; (B) an eligible applicant as defined in Subchapter E; (C) the entity designated to carry out boll weevil eradication in accordance with Section 74.1011 ; (D) any agriculture-related business in rural areas of Texas; (E) a state agency or an institution of higher education that is engaged in producing an agricultural product; or (F) a nonprofit organization whose primary purpose is to maintain the agricultural use of land. (2) "Agricultural product" means an agricultural, horticultural, viticultural, or vegetable product, bees, honey, fish or other seafood, planting seed, livestock, a livestock product, a forestry product, poultry, or a poultry product, either in its natural or processed state, that has been produced, processed, or otherwise had value added to it in this state. (3) "Authority" means the Texas Agricultural Finance Authority. (4) "Board" means the board of directors of the authority. (5) "Bond" includes any type of obligation issued under this Act, including without limitation, any bond, note, draft, bill, warrant, debenture, interim certificate, revenue of bond anticipation note, grant, or any other evidence of indebtedness. (6) "Commissioner" means the commissioner of agriculture. (7) "Eligible agricultural business" means an agricultural business having its principal place of business in this state. (8) "Lender" means a lending institution including a bank, trust company, banking association, savings and loan association, mortgage company, investment banker, credit union, life insurance company, underwriter, or any affiliate of any of those entities, and also includes any other financial institution or governmental agency that customarily provides financing of agricultural loans or mortgages, or any affiliate of such an institution or agency. (9) "Rural area" means an area which is predominately rural in character, being one which the board defines and declares to be a rural area. Added by Acts 1987, 70th Leg., 2nd C.S., ch. 32, art. 2, Sec. 1, eff. Oct. 20, 1987. Amended by Acts 1999, 76th Leg., ch. 1459, Sec. 8, eff. June 19, 1999; Acts 2001, 77th Leg., ch. 26, Sec. 4, eff. May 2, 2001. Amended by: Acts 2009, 81st Leg., R.S., Ch. 5 (S.B. 948 ), Sec. 1, eff. September 1, 2009. Acts 2025, 89th Leg., R.S., Ch. 709 (H.B. 43 ), Sec. 1, eff. June 20, 2025.