348.190. Loan guarantee program — rules, regulations, promulgation, procedure. — In addition to the duties and powers established in sections 348.005 to 348.180, the Missouri agricultural and small business development authority shall develop and implement a single-purpose animal facilities loan guarantee program as provided in sections 348.185 to 348.225. The authority shall promulgate rules and regulations necessary to carry out the purposes of sections 348.185 to 348.225. The rules and regulations promulgated pursuant to sections 348.185 to 348.225 shall be designed to encourage maximum involvement and participation by lenders and financial institutions in the loan guarantee program. The authority shall be the administrative agency for the implementation of the loan guarantee program, and may employ such persons as necessary, within the limits of appropriations made for that purpose, to administer the loan guarantee program. No rule or portion of a rule promulgated under the authority of sections 348.185 to 348.225 shall become effective unless it has been promulgated pursuant to the provisions of section 536.024.
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(L. 1994 H.B. 1248 & 1048, A.L. 1995 S.B. 3)
---- end of effective 28 Aug 1995 ----
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