Producer or harvester of aquatic products definition

Producer or harvester of aquatic products means a person engaged in producing or harvesting aquatic prod- ucts for economic gain in open waters under uncontrolled conditions.
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Producer or harvester of aquatic products means a person engaged in producing or harvesting aquatic prod- ucts for economic gain in open waters under uncontrolled conditions.(b) Eligible borro er. Farm Credit in- stitutions that operate under titles I or II of the Act may provide financing to a bona fide farmer or rancher, or pro- ducer or harvester of aquatic products for any agricultural or aquatic purpose and for other credit needs.§ 613.3005 Lending objective.It is the objective of each bank and association, except for banks for co- operatives, to provide full credit, to the extent of creditworthiness, to the full- time bona fide farmer (one whose pri- mary business and vocation is farming, ranching, or producing or harvesting aquatic products); and conservative credit to less than full-time farmers for agricultural enterprises, and more re- stricted credit for other credit require- ments as needed to ensure a sound credit package or to accommodate a borrower’s needs as long as the total § 613.3010credit results in being primarily an ag- ricultural loan. However, the part-time farmer who needs to seek off-farm em- ployment to supplement farm income or who desires to supplement off-farm income by living in a rural area and is carrying on a valid agricultural oper- ation, shall have availability of credit for mortgages, other agricultural pur- poses, and family needs in the preferred position along with full-time farmers. Loans to farmers shall be on an in- creasingly conservative basis as the emphasis moves away from the full- time bona fide farmer to the point where agricultural needs only will be financed for the applicant whose busi- ness is essentially other than farming. Credit shall not be extended where in- vestment in agricultural assets for speculative appreciation is a primary factor.§ 613.3010 Financing for processing or marketing operations.
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Related to Producer or harvester of aquatic products

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