§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.

The department shall encourage the growth, development, and well being of agriculture in the State by maximizing the use of limited state funds and resources in encouraging development of new farmers and new crops; assisting qualified farmers with loans; encouraging private lenders to make loans to qualified farmers directly, or in cooperation, or in participation with the State; and 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 who cannot secure credit from other sources at reasonable rates and terms. Any assessment of the program shall consider its purpose and intent which involves credit risk beyond that of banks and other private lenders, and such assessment shall be based on standards of similar programs. [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]