CHAPTER 76
FORMERLY
SENATE BILL NO. 74
AS AMENDED BY
SENATE AMENDMENT NO. 1
AN ACT TO AMEND TITLE 3 OF THE DELAWARE CODE RELATING TO THE DELAWARE AGRICULTURAL LANDS PRESERVATION ACT.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend § 903, Title 3 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:
§ 903. Delaware Agricultural Lands Preservation Foundation.
(h) A Trustee may be removed by the Trustee’s appointing authority at any time for gross inefficiency, neglect of duty, malfeasance, misfeasance, or nonfeasance in office.
(1) A Trustee is deemed in neglect of duty if the Trustee is absent from 3 consecutive Foundation meetings without good cause or attends less than 50% of Foundation meetings in a calendar year.
(2) A Trustee who is deemed in neglect of duty is considered to have resigned and, upon appointment of a successor, is no longer a Trustee.
Section 3. Amend § 945, Title 3 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:
§ 945. Loan requirements and approval.
(a) The following requirements and conditions shall apply to loans provided by the Foundation:
(5) Loans shall be are limited to the purchase of farmland and farmland improvements only. Portions of the property subject to purchase which are used or proposed for use for residential purposes shall not be are not eligible for loans, provided further nonetheless, that those lands used or intended for use for residential purposes shall be are subject to the limitations set forth in § 904(a)(4)a. and b. [sic] § 909(a)(4)a. and b. of this title.