Haw. Rev. Stat. § 155-2

Current through the 2024 Legislative Session

Section 155-2 - Objectives

One of the objectives of the department of agriculture shall be to promote the agricultural development of the State by stimulating, facilitating, and granting loans to qualified farmers and food manufacturers.

The department shall encourage the growth, development, and well-being of agriculture in the State by:

(1) Maximizing the use of limited state funds and resources in encouraging development of new farmers and new crops;

(2) Assisting qualified farmers and food manufacturers with loans;

(3) Encouraging private lenders to make loans to qualified farmers and food manufacturers directly, or in cooperation, or in participation with the State; and

(4) Providing relief to farmers in times of emergencies.

The department shall also establish standards and criteria pursuant to which loans may be provided to qualified farmers and food manufacturers who cannot secure credit from other sources at reasonable rates and terms. Any assessment of the program shall consider its purpose and intent that involves credit risk beyond that of banks and other private lenders, and the assessment shall be based on standards of similar programs.

HRS § 155-2

L 1959, c 278, pt of §1; am L Sp 1959 2d, c 1, §25; am L 1961, c 132, §2; Supp, § 102-3; HRS § 155-2; am L 1979, c 222, §2; am L 2000, c 51, §3