§219-4  Funds; application of payments. 
(a)  There is established a special fund to be known as the aquaculture loan
revolving fund from which moneys shall be loaned by the department of
agriculture under this chapter.  The department, by its board of agriculture,
may transfer moneys from the aquaculture loan revolving fund to the
agricultural loan revolving fund, from which moneys shall be disbursed by the
department pursuant to chapter 155, and may transfer moneys from that revolving
fund to the aquaculture loan revolving fund for disbursement pursuant to this
chapter; provided that:



(1)  The amount of moneys transferred shall not exceed
$1,000,000 for each revolving fund within the calendar year; and



(2)  Twenty days prior to the convening of each regular
session of the legislature, the department shall report to the legislature all
transfers that were made between the aquaculture loan revolving fund and the
agricultural loan revolving fund during the preceding calendar year and the
balance of each revolving fund as of December 31 of each year.



(b)  All interests and fees collected by the
department shall be deposited in a loan reserve fund to the extent needed to
carry on the operations of this program; any moneys surplus to these needs
shall be transferred to the aquaculture loan revolving fund at the discretion
of the department.  All payments received on account of principal shall be
credited to the loan revolving fund. [L 1971, c 181, pt of §1; ree L 1977, c
212, pt of §2; am L 1978, c 88, §1; am L 1979, c 137, §4; am L 1987, c 110, §2;
am L 1989, c 347, §3; am L 1992, c 69, §3; am L 1995, c 11, §14; am L 1996, c
253, §4]