01-001 C.M.R. ch. 7, § 2 - Report Required

A. Conditions requiring report. Any corporation or partnership which, on its own behalf or acting as a fiduciary or trustee on behalf of another, holds, acquires or transfers any interest in agricultural land shall submit an annual report to the Commissioner not later than 90 days after January 1st, or the date of that acquisition or transfer, Whichever is earlier.

B. Information required by statute includes:

a. The legal name and address of the corporation or partnership filing and type of legal entity;

b. the nature of the interest in agricultural land which that corporation or partnership has acquired or transferred and the date of that activity;

c. the legal description and acreage of the agricultural land;

d. the use of the agricultural land at the date of acquisition or transfer and the use to which the land shall be put by the person acquiring it;

e. the appraised value of the agricultural land and the consideration given;

f. the name, address and type of legal entity of the person from whom acquired or to whom transferred.

C. Information required by the Commissioner of Agriculture includes:

a. the type of activity;

b. the relationship of the producer to the owner of the land,

c. (if applicable) the rental agreement; and

d. if the producer on this tract is the same producer as when the tract was acquired or is a new person.

Notes

01-001 C.M.R. ch. 7, § 2