90-9-315. Specific criteria for research and development project loans. The council may make a research and development project loan only if it determines that the proposed project substantially complies with the criteria and goals set forth in 90-9-311 and 90-9-314 and further determines that the project:
     (1) has the potential to diversify or add value to the state's agricultural economy;
     (2) demonstrates a clear path to commercial development of the research results within the state;
     (3) involves university system research participation, if appropriate;
     (4) employs or otherwise takes advantage of existing research and development strengths within the state's university and private research establishment;
     (5) involves a realistic and achievable research project design;
     (6) develops or employs innovative agricultural products or processes; and
     (7) is located within the state.

     History: En. Sec. 5, Ch. 284, L. 1989.