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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 2, § 2-5-82: Definitions

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Where this section sits in the code
  1. OK Code
  2. Title 2

As used in the Oklahoma Agricultural Linked Deposit Program:

1. "Agricultural domestic corporation" means any domestic

corporation formed or licensed pursuant to the Oklahoma General

Corporation Act or a limited domestic liability company formed or

licensed pursuant to the Oklahoma Limited Liability Company Act and

meeting the requirements of paragraph 5 of subsection A of Section

955 of Title 18 of the Oklahoma Statutes and meeting the

requirements of subsection A of Section 951 of Title 18 of the

Oklahoma Statutes;

2. "Agricultural linked deposit" means a certificate of deposit

placed by the State Treasurer with an eligible lending institution

or an investment in bonds, notes, debentures, or other obligations

or securities issued by the federal farm credit bank with regard to

an eligible lending institution for the purpose of carrying out the

intent of this program;

3. "Agricultural Linked Deposit Loan Package" means the forms

provided by the State Treasurer for the purpose of applying for an

agricultural linked deposit;

4. "Alternative agricultural products" means those products

included in a report submitted by the Cooperative Extension Service

of Oklahoma State University to the Oklahoma Department of

Agriculture, Food, and Forestry, and any other products which the

State Board of Agriculture determines will diversify Oklahoma's

agricultural industry so as to broaden Oklahoma's economic base, but

alternative agricultural products shall not mean medical marijuana

growing operations;

5. "An at-risk farm or ranch business" shall be one that seeks

a production loan and meets the following criteria:

a. at least sixty percent (60%) of gross income derived

from farming and/or ranching, and

b. a debt-to-asset ratio over forty percent (40%);

6. "Eligible agricultural business" means:

a. any person engaged in producing, processing, or

marketing alternative agricultural products,

b. any person who is establishing a veterinary practice

in which at least thirty percent (30%) of the practice

consists of services for large animals and the total

loan amount shall not exceed Two Hundred Fifty

Thousand Dollars ($250,000.00),

c. an at-risk farm or ranch business operating within the

State of Oklahoma, or

d. a healthy corner store as certified by the Oklahoma

Department of Agriculture, Food, and Forestry;

7. "Eligible lending institution" means a financial institution

that agrees to participate in the Oklahoma Agricultural Linked

Deposit Program, and:

a. is eligible to be a depository of state funds, or

b. is an institution of the farm credit system organized

under the federal "Farm Credit Act of 1971", 12 U.S.C.

2001, as amended; and

8. "Healthy corner store" means a grocery store certified by

the Oklahoma Department of Agriculture, Food, and Forestry pursuant

to rules adopted by the State Board of Agriculture that markets

locally grown fresh fruits and vegetables and nutritious foods and

for which the sale of beer and tobacco products constitutes less

than ten percent (10%) of its gross sales excluding gasoline and

other nongrocery products, such other requirements as may be

established in rules adopted by the State Board of Agriculture, and

that is located in a geographical area that is underserved by

grocery outlets meeting those requirements.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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