Qualified Beginning Farmer or Rancher Law and Legal Definition
Pursuant to 7 USCS § 1991 (11), [Title 7. Agriculture; Chapter 50. Agricultural Credit Administrative Provisions] the term qualified beginning farmer or rancher means “an applicant, regardless of whether the applicant is participating in a program under section 310E [7 USCS § 1935]--
(A) who is eligible for assistance under this title;
(B) who has not operated a farm or ranch, or who has operated a farm or ranch for not more than 10 years;
(C) in the case of a cooperative, corporation, partnership, or joint operation, who has members, stockholders, partners, or joint operators who are all related to one another by blood or marriage;
(D) (i) in the case of an owner and operator of a farm or ranch, who--
(I) in the case of a loan made to an individual, individually or with the immediate family of the applicant--
(aa) materially and substantially participates in the operation of the farm or ranch; and
(bb) provides substantial day-to-day labor and management of the farm or ranch, consistent with the practices in the State or county in which the farm or ranch is located; or
(II) (aa) in the case of a loan made to a cooperative, corporation, partnership, or joint operation, has members, stockholders, partners, or joint operators, materially and substantially participate in the operation of the farm or ranch; and
(bb) in the case of a loan made to a corporation, has stockholders, all of whom are qualified beginning farmers or ranchers; and
(ii) in the case of an applicant seeking to own and operate a farm or ranch, who--
(I) in the case of a loan made to an individual, individually or with the immediate family of the applicant, will--
(aa) materially and substantially participate in the operation of the farm or ranch; and
(bb) provide substantial day-to-day labor and management of the farm or ranch, consistent with the practices in the State or county in which the farm or ranch is located; or
(II) (aa) in the case of a loan made to a cooperative, corporation, partnership, or joint operation, will have members, stockholders, partners, or joint operators, materially and substantially participate in the operation of the farm or ranch; and
(bb) in the case of a loan made to a corporation, has stockholders, all of whom are qualified beginning farmers or ranchers;
(E) who agrees to participate in such loan assessment, borrower training, and financial management programs as the Secretary may require;
(F) who does not own land or who, directly or through interests in family farm corporations, owns land, the aggregate acreage of which does not exceed 30 percent of the median acreage of the farms or ranches, as the case may be, in the county in which the farm or ranch operations of the applicant are located, as reported in the most recent census of agriculture, except that this subparagraph shall not apply to a loan made or guaranteed under subtitle B [7 USCS §§ 1941 et seq.]; and
(G) who demonstrates that the available resources of the applicant and spouse (if any) of the applicant are not sufficient to enable the applicant to continue farming or ranching on a viable scale.”
Legal Definition list
- Qualified Beginning Farmer
- Qualified Base Closure Area [Small Business Administration]
- Qualified Automobile Demonstration Use
- Qualified Audit Opinion
- Qualified Audiologist
- Qualified Beginning Farmer or Rancher
- Qualified Beneficiary
- Qualified Bicycle Commuting Month
- Qualified Bicycle Commuting Reimbursement
- Qualified Bond
- Qualified Campaign Expense
