SF 2577

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to agriculture; providing for family farm 
  1.3             limited liability companies, authorized farm limited 
  1.4             liability companies, family farm limited liability 
  1.5             partnerships, and authorized farm limited liability 
  1.6             partnerships; amending Minnesota Statutes 1997 
  1.7             Supplement, sections 500.24, subdivisions 2, 3, 3a, 
  1.8             3b, and 4; and 500.245, subdivisions 1 and 2. 
  1.9   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.10     Section 1.  Minnesota Statutes 1997 Supplement, section 
  1.11  500.24, subdivision 2, is amended to read: 
  1.12     Subd. 2.  [DEFINITIONS.] The definitions in this 
  1.13  subdivision apply to this section. 
  1.14     (a) "Farming" means the production of (1) agricultural 
  1.15  products; (2) livestock or livestock products; (3) milk or milk 
  1.16  products; or (4) fruit or other horticultural products.  It does 
  1.17  not include the processing, refining, or packaging of said 
  1.18  products, nor the provision of spraying or harvesting services 
  1.19  by a processor or distributor of farm products.  It does not 
  1.20  include the production of timber or forest products, the 
  1.21  production of poultry or poultry products, or the feeding and 
  1.22  caring for livestock that are delivered to a corporation for 
  1.23  slaughter or processing for up to 20 days before slaughter or 
  1.24  processing. 
  1.25     (b) "Family farm" means an unincorporated farming unit 
  1.26  owned by one or more persons residing on the farm or actively 
  1.27  engaging in farming. 
  2.1      (c) "Family farm corporation" means a corporation founded 
  2.2   for the purpose of farming and the ownership of agricultural 
  2.3   land in which the majority of the voting stock is held by and 
  2.4   the majority of the stockholders are persons or the spouses of 
  2.5   persons related to each other within the third degree of kindred 
  2.6   according to the rules of the civil law, and at least one of 
  2.7   said the related persons is residing on or actively operating 
  2.8   the farm, and none of whose stockholders are corporations; 
  2.9   provided that a family farm corporation shall not cease to 
  2.10  qualify as such hereunder by reason of any devise or bequest of 
  2.11  shares of voting stock. 
  2.12     (d) "Authorized farm corporation" means a corporation 
  2.13  meeting the following standards: 
  2.14     (1) it has no more than five shareholders; 
  2.15     (2) all its shareholders, other than any estate, are 
  2.16  natural persons; 
  2.17     (3) it does not have more than one class of shares; 
  2.18     (4) its revenue from rent, royalties, dividends, interest, 
  2.19  and annuities does not exceed 20 percent of its gross receipts; 
  2.20     (5) shareholders holding 51 percent or more of the interest 
  2.21  in the corporation reside on the farm or are actively engaging 
  2.22  in farming; 
  2.23     (6) it does not, directly or indirectly, own or otherwise 
  2.24  have an interest in any title to more than 1,500 acres of 
  2.25  agricultural land; and 
  2.26     (7) none of its shareholders are shareholders in other 
  2.27  authorized farm corporations that directly or indirectly in 
  2.28  combination with the corporation own more than 1,500 acres of 
  2.29  agricultural land. 
  2.30     (e) "Authorized livestock farm corporation" means a 
  2.31  corporation formed for the production of livestock and meeting 
  2.32  the following standards: 
  2.33     (1) it is engaged in the production of livestock other than 
  2.34  dairy cattle; 
  2.35     (2) all its shareholders, other than any estate, are 
  2.36  natural persons or family farm corporations; 
  3.1      (3) it does not have more than one class of shares; 
  3.2      (4) its revenue from rent, royalties, dividends, interest, 
  3.3   and annuities does not exceed 20 percent of its gross receipts; 
  3.4      (5) shareholders holding 75 percent or more of the control, 
  3.5   financial, and capital investment in the corporation are farmers 
  3.6   residing in Minnesota and at least 51 percent of the required 
  3.7   percentage of farmers are actively engaged in livestock 
  3.8   production; 
  3.9      (6) it does not, directly or indirectly, own or otherwise 
  3.10  have an interest in any title to more than 1,500 acres of 
  3.11  agricultural land; and 
  3.12     (7) none of its shareholders are shareholders in other 
  3.13  authorized farm corporations that directly or indirectly in 
  3.14  combination with the corporation own more than 1,500 acres of 
  3.15  agricultural land. 
  3.16     (f) "Agricultural land" means real estate used for farming 
  3.17  or capable of being used for farming in this state. 
  3.18     (g) "Pension or investment fund" means a pension or 
  3.19  employee welfare benefit fund, however organized, a mutual fund, 
  3.20  a life insurance company separate account, a common trust of a 
  3.21  bank or other trustee established for the investment and 
  3.22  reinvestment of money contributed to it, a real estate 
  3.23  investment trust, or an investment company as defined in United 
  3.24  States Code, title 15, section 80a-3.  
  3.25     (h) "Farm homestead" means a house including adjoining 
  3.26  buildings that has been used as part of a farming operation or 
  3.27  is part of the agricultural land used for a farming operation. 
  3.28     (i) "Family farm partnership" means a limited partnership 
  3.29  formed for the purpose of farming and the ownership of 
  3.30  agricultural land in which the majority of the interests in the 
  3.31  partnership is held by and the majority of the partners are 
  3.32  persons or the spouses of persons related to each other within 
  3.33  the third degree of kindred according to the rules of the civil 
  3.34  law, at least one of the related persons is residing on or 
  3.35  actively operating the farm, and none of the partners are 
  3.36  corporations.  A family farm partnership does not cease to 
  4.1   qualify as a family farm partnership because of a devise or 
  4.2   bequest of interest in the partnership.  
  4.3      (j) "Authorized farm partnership" means a limited 
  4.4   partnership meeting the following standards:  
  4.5      (1) it has been issued a certificate from the secretary of 
  4.6   state or is registered with the county recorder and farming and 
  4.7   ownership of agricultural land is stated as a purpose or 
  4.8   character of the business; 
  4.9      (2) it has no more than five partners; 
  4.10     (3) all its partners, other than any estate, are natural 
  4.11  persons; 
  4.12     (4) its revenue from rent, royalties, dividends, interest, 
  4.13  and annuities do does not exceed 20 percent of its gross 
  4.14  receipts; 
  4.15     (5) its general partners hold at least 51 percent of the 
  4.16  interest in the land assets of the partnership and reside on the 
  4.17  farm or are actively engaging in farming not more than 1,500 
  4.18  acres as a general partner in an authorized limited partnership; 
  4.19     (6) its limited partners do not participate in the business 
  4.20  of the limited partnership including operating, managing, or 
  4.21  directing management of farming operations; 
  4.22     (7) it does not, directly or indirectly, own or otherwise 
  4.23  have an interest in any title to more than 1,500 acres of 
  4.24  agricultural land; and 
  4.25     (8) none of its limited partners are limited partners in 
  4.26  other authorized farm partnerships that directly or indirectly 
  4.27  in combination with the partnership own more than 1,500 acres of 
  4.28  agricultural land.  
  4.29     (k) "Family farm limited liability company" means a limited 
  4.30  liability company founded for the purpose of farming and the 
  4.31  ownership of agricultural land in which the majority of the 
  4.32  membership interests are held by and the majority of the members 
  4.33  are persons or the spouses of persons related to each other 
  4.34  within the third degree of kindred according to the rules of the 
  4.35  civil law, at least one of the related persons is residing on or 
  4.36  actively operating the farm, and none of the members are 
  5.1   corporations or limited liability companies.  A family farm 
  5.2   limited liability company does not cease to qualify as such 
  5.3   because of a devise or bequest of membership interests. 
  5.4      (l) "Authorized farm limited liability company" means a 
  5.5   limited liability company meeting the following standards: 
  5.6      (1) it has no more than five members; 
  5.7      (2) all its members, other than any estate, are natural 
  5.8   persons; 
  5.9      (3) it does not have more than one class of membership 
  5.10  interests; 
  5.11     (4) its revenue from rent, royalties, dividends, interest, 
  5.12  and annuities does not exceed 20 percent of its gross receipts; 
  5.13     (5) members holding 51 percent or more of both the 
  5.14  governance rights and financial rights in the limited liability 
  5.15  company reside on the farm or are actively engaged in farming; 
  5.16     (6) it does not, directly or indirectly, own or otherwise 
  5.17  have an interest in any title to more than 1,500 acres of 
  5.18  agricultural land; and 
  5.19     (7) none of its members are members in other authorized 
  5.20  farm limited liability companies that directly or indirectly in 
  5.21  combination with the authorized farm limited liability company 
  5.22  own more than 1,500 acres of agricultural land. 
  5.23     (m) "Authorized livestock farm limited liability company" 
  5.24  means a limited liability company formed for the production of 
  5.25  livestock and meeting the following standards: 
  5.26     (1) it is engaged in the production of livestock other than 
  5.27  dairy cattle; 
  5.28     (2) all its members, other than any estate, are natural 
  5.29  persons or family farm corporations; 
  5.30     (3) it does not have more than one class of membership 
  5.31  interests; 
  5.32     (4) its revenue from rent, royalties, dividends, interest, 
  5.33  and annuities does not exceed 20 percent of its gross receipts; 
  5.34     (5) members holding 75 percent or more of both the 
  5.35  governance rights and financial rights in the limited liability 
  5.36  company are farmers residing in Minnesota and at least 51 
  6.1   percent of the required percentage of farmers are actively 
  6.2   engaged in livestock production; 
  6.3      (6) it does not, directly or indirectly, own or otherwise 
  6.4   have an interest in any title to more than 1,500 acres of 
  6.5   agricultural land; and 
  6.6      (7) none of its members are members in other authorized 
  6.7   farm limited liability companies that directly or indirectly in 
  6.8   combination with the authorized farm limited liability company 
  6.9   own more than 1,500 acres of agricultural land. 
  6.10     (n) "Family farm limited liability partnership" means a 
  6.11  limited liability partnership under section 323.44 or a limited 
  6.12  liability limited partnership under section 322A.88 formed for 
  6.13  the purpose of farming and the ownership of agricultural land in 
  6.14  which the majority of the interests in the partnership is held 
  6.15  by and the majority of the partners are persons or the spouses 
  6.16  of persons related to each other within the third degree of 
  6.17  kindred according to the rules of the civil law, at least one of 
  6.18  the related persons is residing on or actively operating the 
  6.19  farm, and none of the partners are corporations.  A family farm 
  6.20  limited liability partnership does not cease to qualify as such 
  6.21  because of a devise or bequest of interest in the partnership.  
  6.22     (o) "Authorized farm limited liability partnership" means a 
  6.23  limited liability partnership under section 323.44 or a limited 
  6.24  liability limited partnership under section 322A.88 meeting the 
  6.25  following standards:  
  6.26     (1) it has been issued a certificate from the secretary of 
  6.27  state or is registered with the county recorder and farming and 
  6.28  ownership of agricultural land is stated as a purpose or 
  6.29  character of the business; 
  6.30     (2) it has no more than five partners; 
  6.31     (3) all its partners, other than any estate, are natural 
  6.32  persons; 
  6.33     (4) its revenue from rent, royalties, dividends, interest, 
  6.34  and annuities does not exceed 20 percent of its gross receipts; 
  6.35     (5) its general partners hold at least 51 percent of the 
  6.36  interest in the land assets of the partnership and reside on the 
  7.1   farm or are actively engaged in farming not more than 1,500 
  7.2   acres as a partner in an authorized limited liability 
  7.3   partnership; 
  7.4      (6) its limited partners do not participate in the business 
  7.5   of the limited partnership including operating, managing, or 
  7.6   directing management of farming operations; 
  7.7      (7) it does not, directly or indirectly, own or otherwise 
  7.8   have an interest in any title to more than 1,500 acres of 
  7.9   agricultural land; and 
  7.10     (8) none of its limited partners are limited partners in 
  7.11  other authorized farm limited liability partnerships that 
  7.12  directly or indirectly in combination with the authorized farm 
  7.13  limited liability partnership own more than 1,500 acres of 
  7.14  agricultural land. 
  7.15     (k) (p) "Farmer" means a natural person who regularly 
  7.16  participates in physical labor or operations management in the 
  7.17  person's farming operation and files "Schedule F" as part of the 
  7.18  person's annual Form 1040 filing with the United States Internal 
  7.19  Revenue Service. 
  7.20     (l) (q) "Actively engaged in livestock production" means 
  7.21  performing day-to-day physical labor or day-to-day operations 
  7.22  management that significantly contributes to livestock 
  7.23  production and the functioning of a livestock operation. 
  7.24     (m) (r) "Research or experimental farm" means a 
  7.25  corporation, limited partnership, limited liability company, 
  7.26  limited liability partnership, limited liability limited 
  7.27  partnership, or pension or investment fund that owns or operates 
  7.28  agricultural land for research or experimental purposes, 
  7.29  provided that any commercial sales from the operation are 
  7.30  incidental to the research or experimental objectives of the 
  7.31  corporation.  A corporation, limited partnership, limited 
  7.32  liability company, limited liability partnership, limited 
  7.33  liability limited partnership, or pension or investment fund 
  7.34  seeking initial approval by the commissioner to operate 
  7.35  agricultural land for research or experimental purposes must 
  7.36  first submit to the commissioner a prospectus or proposal of the 
  8.1   intended method of operation containing information required by 
  8.2   the commissioner including a copy of any operational contract 
  8.3   with individual participants. 
  8.4      (n) (s) "Breeding stock farm" means a corporation or, 
  8.5   limited partnership, limited liability company, limited 
  8.6   liability partnership, or limited liability limited partnership 
  8.7   that owns land for the purpose of raising breeding stock, 
  8.8   including embryos, for resale to farmers or for the purpose of 
  8.9   growing seed, wild rice, nursery plants, or sod.  An entity that 
  8.10  is organized to raise livestock other than dairy cattle under 
  8.11  this paragraph that does not qualify as an authorized farm 
  8.12  corporation must:  
  8.13     (1) sell all castrated animals to be fed out or finished to 
  8.14  farming operations that are neither directly nor indirectly 
  8.15  owned by the business entity operating the breeding stock 
  8.16  operation; and 
  8.17     (2) report its total production and sales annually to the 
  8.18  commissioner.  
  8.19     (o) (t) "Aquatic farm" means a corporation or, limited 
  8.20  partnership, limited liability company, limited liability 
  8.21  partnership, or limited liability limited partnership that owns 
  8.22  or leases agricultural land as a necessary part of an aquatic 
  8.23  farm as defined in section 17.47, subdivision 3.  
  8.24     (p) (u) "Religious farm" means a corporation formed 
  8.25  primarily for religious purposes whose sole income is derived 
  8.26  from agriculture.  
  8.27     (q) (v) "Utility corporation" means a corporation regulated 
  8.28  under Minnesota Statutes 1974, chapter 216B, that owns 
  8.29  agricultural land for purposes described in that chapter, or an 
  8.30  electric generation or transmission cooperative that owns 
  8.31  agricultural land for use in its business if the land is not 
  8.32  used for farming except under lease to a family farm unit, a 
  8.33  family farm corporation, or a family farm partnership, a family 
  8.34  farm limited liability company, or a family farm limited 
  8.35  liability partnership.  
  8.36     (r) (w) "Benevolent trust" means a pension fund or family 
  9.1   trust established by the owners of a family farm, authorized 
  9.2   farm corporation, authorized livestock farm corporation, or 
  9.3   family farm corporation, family farm limited liability company, 
  9.4   or authorized livestock farm limited liability company that 
  9.5   holds an interest in title to agricultural land on which one or 
  9.6   more of those owners or, shareholders, or members have resided 
  9.7   or have been actively engaged in farming as required by 
  9.8   paragraph (b), (c), (d), or (e), (k), (l), or (m). 
  9.9      (s) (x) "Development organization" means a corporation, 
  9.10  limited partnership, limited liability company, limited 
  9.11  liability partnership, limited liability limited partnership, or 
  9.12  pension or investment fund that owns agricultural land for which 
  9.13  the corporation, limited partnership, or pension or investment 
  9.14  organization or fund has documented plans to use and 
  9.15  subsequently uses the land within six years from the date of 
  9.16  purchase for a specific nonfarming purpose, or if the land is 
  9.17  zoned nonagricultural, or if the land is located within an 
  9.18  incorporated area.  A corporation, limited partnership, limited 
  9.19  liability company, limited liability partnership, limited 
  9.20  liability limited partnership, or pension or investment fund may 
  9.21  hold agricultural land in the amount necessary for its nonfarm 
  9.22  business operation; provided, however, that pending the 
  9.23  development of agricultural land for nonfarm purposes, the land 
  9.24  may not be used for farming except under lease to a family farm 
  9.25  unit, a family farm corporation, an authorized farm corporation, 
  9.26  an authorized livestock farm corporation, a family farm 
  9.27  partnership, or an authorized farm partnership, a family farm 
  9.28  limited liability company, an authorized farm limited liability 
  9.29  company, a family farm limited liability partnership, or an 
  9.30  authorized farm limited liability partnership, or except when 
  9.31  controlled through ownership, options, leaseholds, or other 
  9.32  agreements by a corporation that has entered into an agreement 
  9.33  with the United States under the New Community Act of 1968 
  9.34  (Title IV of the Housing and Urban Development Act of 1968, 
  9.35  United States Code, title 42, sections 3901 to 3914) as amended, 
  9.36  or a subsidiary or assign of such a corporation.  
 10.1      (t) (y) "Exempt land" means agricultural land owned or 
 10.2   leased by a corporation as of May 20, 1973, agricultural land 
 10.3   owned or leased by a pension or investment fund as of May 12, 
 10.4   1981, or agricultural land owned or leased by a limited 
 10.5   partnership as of May 1, 1988, or a limited liability company, 
 10.6   limited liability partnership, or limited liability limited 
 10.7   partnership as of May 1, 1998, including the normal expansion of 
 10.8   that ownership at a rate not to exceed 20 percent of the amount 
 10.9   of land owned as of May 20, 1973, for a corporation; May 12, 
 10.10  1981, for a pension or investment fund; or May 1, 1988, for a 
 10.11  limited partnership, or May 1, 1998, for a limited liability 
 10.12  company, limited liability partnership, or limited liability 
 10.13  limited partnership, measured in acres, in any five-year period, 
 10.14  and including additional ownership reasonably necessary to meet 
 10.15  the requirements of pollution control rules.  A corporation, 
 10.16  limited partnership, limited liability company, limited 
 10.17  liability partnership, limited liability limited partnership, or 
 10.18  pension or investment fund that is eligible to own or lease 
 10.19  agricultural land under this section prior to May 1997 may 
 10.20  continue to own or lease agricultural land subject to the same 
 10.21  conditions and limitations as previously allowed.  
 10.22     (u) (z) "Gifted land" means agricultural land acquired as a 
 10.23  gift, either by grant or devise, by an educational, religious, 
 10.24  or charitable nonprofit corporation, limited 
 10.25  partnership, limited liability company, limited liability 
 10.26  partnership, limited liability limited partnership, or pension 
 10.27  or investment fund if all land so acquired is disposed of within 
 10.28  ten years after acquiring the title.  
 10.29     (v) (aa) "Repossessed land" means agricultural land 
 10.30  acquired by a corporation, limited partnership, limited 
 10.31  liability company, limited liability partnership, limited 
 10.32  liability limited partnership, or pension or investment fund by 
 10.33  process of law in the collection of debts, or by any procedure 
 10.34  for the enforcement of a lien or claim on the land, whether 
 10.35  created by mortgage or otherwise if all land so acquired is 
 10.36  disposed of within five years after acquiring the title.  The 
 11.1   five-year limitation is a covenant running with the title to the 
 11.2   land against any grantee, assignee, or successor of the pension 
 11.3   or investment fund, corporation, or limited partnership, limited 
 11.4   liability company, limited liability partnership, or limited 
 11.5   liability limited partnership.  The land so acquired must not be 
 11.6   used for farming during the five-year period, except under a 
 11.7   lease to a family farm unit, a family farm corporation, an 
 11.8   authorized farm corporation, an authorized livestock farm 
 11.9   corporation, a family farm partnership, or an authorized farm 
 11.10  partnership, a family farm limited liability company, an 
 11.11  authorized farm limited liability company, a family farm limited 
 11.12  liability partnership, or an authorized farm limited liability 
 11.13  partnership.  Notwithstanding the five-year divestiture 
 11.14  requirement under this paragraph, a financial institution may 
 11.15  continue to own the agricultural land if the agricultural land 
 11.16  is leased to the immediately preceding former owner, but must 
 11.17  dispose of the agricultural land within ten years of acquiring 
 11.18  the title.  Livestock acquired by a pension or investment fund, 
 11.19  corporation, or limited partnership, limited liability company, 
 11.20  limited liability partnership, or limited liability limited 
 11.21  partnership in the collection of debts, or by a procedure for 
 11.22  the enforcement of lien or claim on the livestock whether 
 11.23  created by security agreement or otherwise after August 1, 1994, 
 11.24  must be sold or disposed of within one full production cycle for 
 11.25  the type of livestock acquired or 18 months after the livestock 
 11.26  is acquired, whichever is later.  
 11.27     (w) (bb) "Commissioner" means the commissioner of 
 11.28  agriculture. 
 11.29     Sec. 2.  Minnesota Statutes 1997 Supplement, section 
 11.30  500.24, subdivision 3, is amended to read: 
 11.31     Subd. 3.  [FARMING AND OWNERSHIP OF AGRICULTURAL LAND BY 
 11.32  CORPORATIONS RESTRICTED.] No corporation, limited liability 
 11.33  company, pension or investment fund, or limited partnership, 
 11.34  limited liability partnership, or limited liability limited 
 11.35  partnership shall engage in farming; nor shall any corporation, 
 11.36  limited liability company, pension or investment fund, or 
 12.1   limited partnership, limited liability partnership, or limited 
 12.2   liability limited partnership, directly or indirectly, own, 
 12.3   acquire, or otherwise obtain any interest, in agricultural land 
 12.4   other than a bona fide encumbrance taken for purposes of 
 12.5   security.  This subdivision does not apply to general 
 12.6   partnerships.  This subdivision does not apply to any 
 12.7   agricultural land, corporation, limited partnership, or pension 
 12.8   or investment fund, limited liability company, limited liability 
 12.9   partnership, or limited liability limited partnership that meet 
 12.10  meets any of the definitions in subdivision 2, paragraphs (b) to 
 12.11  (e), (i), (j) to (o), and (m) (r) to (v) (aa), has a 
 12.12  conservation plan prepared for the agricultural land, and 
 12.13  reports as required under subdivision 4. 
 12.14     Sec. 3.  Minnesota Statutes 1997 Supplement, section 
 12.15  500.24, subdivision 3a, is amended to read: 
 12.16     Subd. 3a.  [LEASE AGREEMENT; CONSERVATION PRACTICE 
 12.17  PROTECTION CLAUSE.] A corporation, pension or investment fund, 
 12.18  or limited partnership, limited liability company, limited 
 12.19  liability partnership, or limited liability limited partnership 
 12.20  other than a family farm corporation, an authorized farm 
 12.21  corporation, an authorized livestock farm corporation, a family 
 12.22  farm partnership, or an authorized farm partnership those 
 12.23  meeting any of the definitions in subdivision 2, paragraphs (c) 
 12.24  to (e) or (i) to (o), when leasing farm land to a family farm 
 12.25  unit, a family farm corporation, an authorized farm corporation, 
 12.26  an authorized livestock farm corporation, a family farm 
 12.27  partnership, or an authorized farm partnership, a family farm 
 12.28  limited liability company, an authorized farm limited liability 
 12.29  company, an authorized livestock farm limited liability company, 
 12.30  a family farm limited liability partnership, or an authorized 
 12.31  farm limited liability partnership, under provisions of 
 12.32  subdivision 2, paragraph (v) (aa), must include within the lease 
 12.33  agreement a provision prohibiting intentional damage or 
 12.34  destruction to a conservation practice on the agricultural land. 
 12.35     Sec. 4.  Minnesota Statutes 1997 Supplement, section 
 12.36  500.24, subdivision 3b, is amended to read: 
 13.1      Subd. 3b.  [PROTECTION OF CONSERVATION PRACTICES.] A 
 13.2   corporation, pension or investment fund, or limited partnership, 
 13.3   limited liability company, limited liability partnership, or 
 13.4   limited liability limited partnership other than a family farm 
 13.5   corporation, an authorized farm corporation, an authorized 
 13.6   livestock farm corporation, a family farm partnership, or 
 13.7   authorized farm partnership those meeting any of the definitions 
 13.8   in subdivision 2, paragraphs (c) to (e) or (i) to (o), which, 
 13.9   during the period of time it holds agricultural land under 
 13.10  subdivision 2, paragraph (v) (aa), intentionally destroys a 
 13.11  conservation practice as defined in section 103F.401, 
 13.12  subdivision 3, to which the state has made a financial 
 13.13  contribution, must pay the commissioner, for deposit in the 
 13.14  general fund, an amount equal to the state's total contributions 
 13.15  to that conservation practice plus interest from the time of 
 13.16  investment in the conservation practice.  Interest must be 
 13.17  calculated at an annual percentage rate of 12 percent. 
 13.18     Sec. 5.  Minnesota Statutes 1997 Supplement, section 
 13.19  500.24, subdivision 4, is amended to read: 
 13.20     Subd. 4.  [REPORTS.] (a) The chief executive officer of 
 13.21  every pension or investment fund, corporation, or limited 
 13.22  partnership, limited liability company, limited liability 
 13.23  partnership, or limited liability limited partnership that holds 
 13.24  any interest in agricultural land or land used for the breeding, 
 13.25  feeding, pasturing, growing, or raising of livestock, dairy or 
 13.26  poultry, or products thereof, or land used for the production of 
 13.27  agricultural crops or fruit or other horticultural products, 
 13.28  other than a bona fide encumbrance taken for purposes of 
 13.29  security, or which is engaged in farming or proposing to 
 13.30  commence farming in this state after May 20, 1973, shall file 
 13.31  with the commissioner a report containing the following 
 13.32  information and documents: 
 13.33     (1) the name of the pension or investment fund, 
 13.34  corporation, or limited partnership, limited liability company, 
 13.35  limited liability partnership, or limited liability limited 
 13.36  partnership and its place of incorporation, certification, or 
 14.1   registration; 
 14.2      (2) the address of the pension or investment plan 
 14.3   headquarters or of the registered office of the corporation in 
 14.4   this state, the name and address of its registered agent in this 
 14.5   state and, in the case of a foreign corporation or, limited 
 14.6   partnership, limited liability company, limited liability 
 14.7   partnership, or limited liability limited partnership, the 
 14.8   address of its principal office in its place of incorporation, 
 14.9   certification, or registration; 
 14.10     (3) the acreage and location listed by quarter-quarter 
 14.11  section, township, and county of each lot or parcel of 
 14.12  agricultural land or land used for the keeping or feeding of 
 14.13  poultry in this state owned or leased by the pension or 
 14.14  investment fund, limited partnership, or corporation, limited 
 14.15  liability company, limited liability partnership, or limited 
 14.16  liability limited partnership; 
 14.17     (4) the names and addresses of the officers, 
 14.18  administrators, directors, or trustees of the pension or 
 14.19  investment fund, or of the officers, and shareholders owning 
 14.20  more than ten percent of the stock, including the percent of 
 14.21  stock owned by each such shareholder, and the members of the 
 14.22  board of directors of the corporation, the members of the 
 14.23  limited liability company, and the general and limited partners 
 14.24  and the percentage of interest in the partnership by each 
 14.25  partner; 
 14.26     (5) the farm products which the pension or investment fund, 
 14.27  limited partnership, or corporation, limited liability company, 
 14.28  limited liability partnership, or limited liability limited 
 14.29  partnership produces or intends to produce on its agricultural 
 14.30  land; 
 14.31     (6) with the first report, a copy of the title to the 
 14.32  property where the farming operations are or will occur 
 14.33  indicating the particular exception claimed under subdivision 3 
 14.34  2; and 
 14.35     (7) with the first or second report, a copy of the 
 14.36  conservation plan proposed by the soil and water conservation 
 15.1   district, and with subsequent reports a statement of whether the 
 15.2   conservation plan was implemented. 
 15.3      The report of a corporation an organization seeking to 
 15.4   qualify hereunder as a family farm corporation, an authorized 
 15.5   farm corporation, an authorized livestock farm corporation, a 
 15.6   family farm partnership, or an authorized farm partnership, a 
 15.7   family farm limited liability company, an authorized farm 
 15.8   limited liability company, a family farm limited liability 
 15.9   partnership, or an authorized farm limited liability partnership 
 15.10  shall contain the following additional information:  the number 
 15.11  of shares or the, partnership interests, or governance and 
 15.12  financial rights owned by persons residing on the farm or 
 15.13  actively engaged in farming, or their relatives within the third 
 15.14  degree of kindred according to the rules of the civil law or 
 15.15  their spouses; the name, address, and number of shares owned by 
 15.16  each shareholder or, partnership interests owned by each 
 15.17  partner;, or governance and financial rights owned by each 
 15.18  member, and a statement as to percentage of gross receipts of 
 15.19  the corporation derived from rent, royalties, dividends, 
 15.20  interest, and annuities.  No pension or investment fund, limited 
 15.21  partnership, or corporation, limited liability company, limited 
 15.22  liability partnership, or limited liability limited partnership 
 15.23  shall commence farming in this state until the commissioner has 
 15.24  inspected the report and certified that its proposed operations 
 15.25  comply with the provisions of this section. 
 15.26     (b) Every pension or investment fund, limited partnership, 
 15.27  or corporation, limited liability corporation, limited liability 
 15.28  partnership, or limited liability limited partnership as 
 15.29  described in paragraph (a) shall, prior to April 15 of each 
 15.30  year, file with the commissioner a report containing the 
 15.31  information required in paragraph (a), based on its operations 
 15.32  in the preceding calendar year and its status at the end of the 
 15.33  year.  A pension or investment fund, limited partnership, or 
 15.34  corporation, limited liability company, limited liability 
 15.35  partnership, or limited liability limited partnership that does 
 15.36  not file the report by April 15 must pay a $500 civil penalty.  
 16.1   The penalty is a lien on the land being farmed under subdivision 
 16.2   3 until the penalty is paid. 
 16.3      (c) The commissioner may, for good cause shown, issue a 
 16.4   written waiver or reduction of the civil penalty for failure to 
 16.5   make a timely filing of the annual report required by this 
 16.6   subdivision.  The waiver or reduction is final and conclusive 
 16.7   with respect to the civil penalty, and may not be reopened or 
 16.8   modified by an officer, employee, or agent of the state, except 
 16.9   upon a showing of fraud or malfeasance or misrepresentation of a 
 16.10  material fact.  The report required under paragraph (b) must be 
 16.11  completed prior to a reduction or waiver under this paragraph.  
 16.12  The commissioner may enter into an agreement under this 
 16.13  paragraph only once for each corporation or partnership. 
 16.14     (d) Failure to file a required report or the willful filing 
 16.15  of false information is a gross misdemeanor. 
 16.16     Sec. 6.  Minnesota Statutes 1997 Supplement, section 
 16.17  500.245, subdivision 1, is amended to read: 
 16.18     Subdivision 1.  [DISPOSAL OF LAND.] (a) A state or federal 
 16.19  agency, limited partnership, or a corporation, limited liability 
 16.20  company, limited liability partnership, or limited liability 
 16.21  limited partnership may not lease or sell agricultural land or a 
 16.22  farm homestead before offering or making a good faith effort to 
 16.23  offer the land for sale or lease to the immediately preceding 
 16.24  former owner at a price no higher than the highest price offered 
 16.25  by a third party that is acceptable to the seller or lessor.  
 16.26  The offer must be made on the notice to offer form under 
 16.27  subdivision 2.  The requirements of this subdivision do not 
 16.28  apply to a sale or lease by a corporation that is a family farm 
 16.29  corporation or an authorized farm corporation or to a sale or 
 16.30  lease by the commissioner of agriculture of property acquired by 
 16.31  the state under the family farm security program under chapter 
 16.32  41.  This subdivision applies only to a sale or lease when the 
 16.33  seller or lessor acquired the property by enforcing a debt 
 16.34  against the agricultural land or farm homestead, including 
 16.35  foreclosure of a mortgage, accepting a deed in lieu of 
 16.36  foreclosure, terminating a contract for deed, or accepting a 
 17.1   deed in lieu of terminating a contract for deed.  Selling or 
 17.2   leasing property to a third party at a price is prima facie 
 17.3   evidence that the price is acceptable to the seller or lessor.  
 17.4   The seller must provide written notice to the immediately 
 17.5   preceding former owner that the agricultural land or farm 
 17.6   homestead will be offered for sale at least 14 days before the 
 17.7   agricultural land or farm homestead is offered for sale.  
 17.8      (b) An immediately preceding former owner is the entity 
 17.9   with record legal title to the agricultural land or farm 
 17.10  homestead before acquisition by the state or federal agency or 
 17.11  corporation except:  if the immediately preceding former owner 
 17.12  is a bankruptcy estate, the debtor in bankruptcy is the 
 17.13  immediately preceding former owner; and if the agricultural land 
 17.14  or farm homestead was acquired by termination of a contract for 
 17.15  deed or deed in lieu of termination of a contract for deed, the 
 17.16  immediately preceding former owner is the purchaser under the 
 17.17  contract for deed.  For purposes of this subdivision, only a 
 17.18  family farm, family farm corporation, or family farm 
 17.19  partnership, family farm limited liability company, or family 
 17.20  farm limited liability partnership can be an immediately 
 17.21  preceding former owner. 
 17.22     (c) An immediately preceding former owner may elect to 
 17.23  purchase or lease the entire property or an agreed to portion of 
 17.24  the property.  If the immediately preceding former owner elects 
 17.25  to purchase or lease a portion of the property, the election 
 17.26  must be reported in writing to the seller or lessor prior to the 
 17.27  time the property is first offered for sale or lease.  If 
 17.28  election is made to purchase or lease a portion of the property, 
 17.29  the portion must be contiguous and compact so that it does not 
 17.30  unreasonably reduce access to or the value of the remaining 
 17.31  property. 
 17.32     (d) For purposes of this subdivision, the term "a price no 
 17.33  higher than the highest price offered by a third party" means 
 17.34  the acceptable cash price offered by a third party or the 
 17.35  acceptable time-price offer made by a third party.  A cash price 
 17.36  offer is one that involves simultaneous transfer of title for 
 18.1   payment of the entire amount of the offer.  If the acceptable 
 18.2   offer made by a third party is a time-price offer, the seller or 
 18.3   lessor must make the same time-price offer or an equivalent cash 
 18.4   offer to the immediately preceding former owner.  An equivalent 
 18.5   cash offer is equal to the total of the payments made over a 
 18.6   period of the time-price offer discounted by yield curve of the 
 18.7   United States treasury notes and bonds of similar maturity on 
 18.8   the first business day of the month in which the offer is 
 18.9   personally delivered or mailed for time periods similar to the 
 18.10  time period covered by the time-price offer, plus 2.0 percent.  
 18.11  A time-price offer is an offer that is financed entirely or 
 18.12  partially by the seller and includes an offer to purchase under 
 18.13  a contract for deed or mortgage.  An equivalent cash offer is 
 18.14  not required to be made if the state participates in an offer to 
 18.15  a third party through the rural finance authority. 
 18.16     (e) This subdivision applies to a seller when the property 
 18.17  is sold and to a lessor each time the property is leased, for 
 18.18  the time period specified in subdivision 3, paragraph (i), after 
 18.19  the agricultural land is acquired except:  
 18.20     (1) an offer to lease to the immediately preceding former 
 18.21  owner is required only until the immediately preceding owner 
 18.22  fails to accept an offer to lease the property or the property 
 18.23  is sold; 
 18.24     (2) an offer to sell to the immediately preceding former 
 18.25  owner is required until the property is sold; and 
 18.26     (3) if the immediately preceding former owner elects to 
 18.27  lease or purchase a portion of the property, this subdivision 
 18.28  does not apply to the seller with regard to the balance of the 
 18.29  property after the election is made under paragraph (c).  
 18.30     (f) The notice of an offer under subdivision 2 that is 
 18.31  personally delivered with a signed receipt or sent by certified 
 18.32  mail with a receipt of mailing to the immediately preceding 
 18.33  former owner's last known address is a good faith offer.  
 18.34     (g) This subdivision does not apply to a sale or lease that 
 18.35  occurs after the seller or lessor has held the property for the 
 18.36  time period specified in subdivision 3, paragraph (i).  
 19.1      (h) For purposes of this subdivision, if the immediately 
 19.2   preceding former owner is a bankruptcy estate the debtor in the 
 19.3   bankruptcy is the immediately preceding owner.  
 19.4      (i) The immediately preceding former owner must exercise 
 19.5   the right to lease all or a portion of the agricultural land or 
 19.6   a homestead located on agricultural land in writing within 15 
 19.7   days after an offer to lease under this subdivision is mailed 
 19.8   with a receipt of mailing or personally delivered.  If election 
 19.9   is made to lease only the homestead or a portion of the 
 19.10  agricultural land, the portion to be leased must be clearly 
 19.11  identified in writing.  The immediately preceding former owner 
 19.12  must exercise the right to buy the agricultural land, a portion 
 19.13  of the agricultural land, or a farm homestead located on 
 19.14  agricultural land, in writing, within 65 days after an offer to 
 19.15  buy under this subdivision is mailed with a receipt of mailing 
 19.16  or is personally delivered.  Within ten days after exercising 
 19.17  the right to lease or buy by accepting the offer, the 
 19.18  immediately preceding owner must fully perform according to the 
 19.19  terms of the offer including paying the amounts due.  A seller 
 19.20  may sell and a lessor may lease the agricultural land or farm 
 19.21  homestead subject to this subdivision to the third party in 
 19.22  accordance with their lease or purchase agreement if: 
 19.23     (1) the immediately preceding former owner does not accept 
 19.24  an offer to lease or buy before the offer terminates; or 
 19.25     (2) the immediately preceding former owner does not perform 
 19.26  the obligations of the offer, including paying the amounts due, 
 19.27  within ten days after accepting the offer. 
 19.28     (j) A certificate indicating whether or not the property 
 19.29  contains agricultural land or a farm homestead that is signed by 
 19.30  the county assessor where the property is located and recorded 
 19.31  in the office of the county recorder or the registrar of titles 
 19.32  where the property is located is prima facie evidence of whether 
 19.33  the property is agricultural land or a farm homestead. 
 19.34     (k) As prima facie evidence that an offer to sell or lease 
 19.35  agricultural land or a farm homestead has terminated, a receipt 
 19.36  of mailing the notice under subdivision 2 and an affidavit, 
 20.1   signed by a person authorized to act on behalf of a state, 
 20.2   federal agency, or corporation selling or leasing the 
 20.3   agricultural land or a farm homestead may be filed in the office 
 20.4   of the county recorder or registrar of titles of the county 
 20.5   where the agricultural land or farm homestead is located.  The 
 20.6   affidavit must state that: 
 20.7      (1) notice of an offer to buy or lease the agricultural 
 20.8   land or farm homestead was provided to the immediately preceding 
 20.9   former owner at a price not higher than the highest price 
 20.10  offered by a third party that is acceptable; 
 20.11     (2) the time during which the immediately preceding former 
 20.12  owner is required to exercise the right to buy or lease the 
 20.13  agricultural land or farm homestead has expired; 
 20.14     (3) the immediately preceding former owner has not 
 20.15  exercised the right to buy or lease the agricultural land or 
 20.16  farm homestead as provided in this subdivision or has accepted 
 20.17  an offer and has not fully performed according to the terms of 
 20.18  the offer; and 
 20.19     (4) the offer to the immediately preceding former owner has 
 20.20  terminated. 
 20.21     (l) The right of an immediately preceding former owner to 
 20.22  receive an offer to lease or purchase agricultural land under 
 20.23  this subdivision or to lease or purchase at a price no higher 
 20.24  than the highest price offered by a third party that is 
 20.25  acceptable to the seller or lessor may be extinguished or 
 20.26  limited by an express statement signed by the immediately 
 20.27  preceding owner that complies with the plain language 
 20.28  requirements of section 325G.31.  The right may not be 
 20.29  extinguished or limited except by: 
 20.30     (1) an express statement in a deed in lieu of foreclosure 
 20.31  of the agricultural land; 
 20.32     (2) an express statement in a deed in lieu of a termination 
 20.33  of a contract for deed for the agricultural land; 
 20.34     (3) an express statement conveying the right to the state 
 20.35  or federal agency or corporation owning the agricultural land 
 20.36  that is required to make an offer under this subdivision; 
 21.1   however, the preceding former owner may rescind the conveyance 
 21.2   by notifying the state or federal agency or corporation in 
 21.3   writing within 20 calendar days after signing the express 
 21.4   statement; 
 21.5      (4) to cure a title defect, an express statement conveying 
 21.6   the right may be made to a person to whom the agricultural land 
 21.7   has been transferred by the state or federal agency or 
 21.8   corporation; or 
 21.9      (5) an express statement conveying the right to a contract 
 21.10  for deed vendee to whom the agricultural land or farm homestead 
 21.11  was sold under a contract for deed by the immediately preceding 
 21.12  former owner if the express statement and the contract for deed 
 21.13  are recorded. 
 21.14     (m) The right of an immediately preceding former owner to 
 21.15  receive an offer to lease or purchase agricultural land under 
 21.16  this subdivision may not be assigned or transferred except as 
 21.17  provided in paragraph (l), but may be inherited.  
 21.18     (n) An immediately preceding former owner, except a former 
 21.19  owner who is actively engaged in farming as defined in 
 21.20  subdivision 2, paragraph (a), and who agrees to remain actively 
 21.21  engaged in farming on a portion of the agricultural land or farm 
 21.22  homestead for at least one year after accepting an offer under 
 21.23  this subdivision, may not sell agricultural land acquired by 
 21.24  accepting an offer under this subdivision if the arrangement of 
 21.25  the sale was negotiated or agreed to prior to the former owner 
 21.26  accepting the offer under this subdivision.  A person who sells 
 21.27  property in violation of this paragraph is liable for damages 
 21.28  plus reasonable attorney fees to a person who is damaged by a 
 21.29  sale in violation of this paragraph.  There is a rebuttable 
 21.30  presumption that a sale by an immediately preceding former owner 
 21.31  is in violation of this paragraph if the sale takes place within 
 21.32  270 days of the former owner accepting the offer under this 
 21.33  subdivision.  This paragraph does not apply to a sale by an 
 21.34  immediately preceding former owner to the owner's spouse, the 
 21.35  owner's parents, the owner's sisters and brothers, the owner's 
 21.36  spouse's sisters and brothers, or the owner's children. 
 22.1      Sec. 7.  Minnesota Statutes 1997 Supplement, section 
 22.2   500.245, subdivision 2, is amended to read: 
 22.3      Subd. 2.  [NOTICE OF OFFER.] (a) The state, a federal 
 22.4   agency, limited partnership, or a corporation, limited liability 
 22.5   company, limited liability partnership, or limited liability 
 22.6   limited partnership subject to subdivision 1 must provide a 
 22.7   notice of an offer to sell or lease agricultural land 
 22.8   substantially as follows, after inserting the appropriate terms 
 22.9   within the parentheses: 
 22.10         "NOTICE OF OFFER TO (LEASE, BUY) AGRICULTURAL LAND
 22.11  TO:       (...Immediately preceding former owner...)
 22.12  FROM:     (...The state, federal agency, limited
 22.13            partnership, or corporation, limited liability
 22.14            company, limited liability partnership, or
 22.15            limited liability limited partnership subject to
 22.16            subdivision 1...)
 22.17  DATE:     (...date notice is mailed or personally
 22.18            delivered...)
 22.19     (...The state, federal agency, limited partnership, or 
 22.20  corporation, limited liability company, limited liability 
 22.21  partnership, or limited liability limited partnership...) HAS 
 22.22  ACQUIRED THE AGRICULTURAL LAND DESCRIBED BELOW AND HAS RECEIVED 
 22.23  AN ACCEPTABLE OFFER TO (LEASE, SELL) THE AGRICULTURAL LAND FROM 
 22.24  ANOTHER PARTY.  UNDER MINNESOTA STATUTES, SECTION 500.245, 
 22.25  SUBDIVISION 1, AN OFFER FROM (...the state, federal agency, 
 22.26  limited partnership, or corporation, limited liability company, 
 22.27  limited liability partnership, limited liability limited 
 22.28  partnership...) MUST BE MADE TO YOU AT A PRICE NO HIGHER THAN 
 22.29  THE HIGHEST OFFER MADE BY ANOTHER PARTY. 
 22.30     THE AGRICULTURAL LAND BEING OFFERED CONTAINS APPROXIMATELY 
 22.31  (...approximate number of acres...) ACRES AND IS INFORMALLY 
 22.32  DESCRIBED AS FOLLOWS: 
 22.33     (Informal description of the agricultural land being 
 22.34  offered that reasonably describes the land.  This description 
 22.35  does not need to be a legal description.) 
 22.36     (...The state, federal agency, limited partnership, or 
 23.1   corporation, limited liability company, limited liability 
 23.2   partnership, or limited liability limited partnership...) OFFERS 
 23.3   TO (SELL, LEASE) THE AGRICULTURAL LAND DESCRIBED ABOVE FOR A 
 23.4   CASH PRICE OF $(...cash price or equivalent cash price for lease 
 23.5   and lease period, or cash price or equivalent cash price for 
 23.6   sale of land...), WHICH IS NOT HIGHER THAN THE PRICE OFFERED BY 
 23.7   ANOTHER PARTY.  THE PRICE IS OFFERED ON THE FOLLOWING TERMS: 
 23.8                 (Terms, if any, of acceptable offer)
 23.9      IF YOU WANT TO ACCEPT THIS OFFER YOU MUST NOTIFY (...the 
 23.10  state, federal agency, limited partnership, or corporation, 
 23.11  limited liability company, limited liability partnership, or 
 23.12  limited liability limited partnership...) IN WRITING THAT YOU 
 23.13  ACCEPT THE OFFER OR SIGN UNDERNEATH THE FOLLOWING PARAGRAPH AND 
 23.14  RETURN A COPY OF THIS NOTICE BY (15 for a lease, 65 for a sale) 
 23.15  DAYS AFTER THIS NOTICE IS PERSONALLY DELIVERED OR MAILED TO 
 23.16  YOU.  THE OFFER IN THIS NOTICE TERMINATES ON (...date of 
 23.17  termination - 15 days for lease and 65 days for sale after date 
 23.18  of mailing or personal delivery...) 
 23.19                        ACCEPTANCE OF OFFER 
 23.20     I ACCEPT THE OFFER TO (BUY, LEASE) THE AGRICULTURAL LAND 
 23.21  DESCRIBED ABOVE AT THE PRICE OFFERED TO ME IN THIS NOTICE.  AS 
 23.22  PART OF ACCEPTING THIS OFFER I WILL PERFORM ACCORDING TO THE 
 23.23  TERMS OF THE OFFER, INCLUDING MAKING PAYMENTS DUE UNDER THE 
 23.24  OFFER, WITHIN TEN DAYS AFTER THE DATE I ACCEPT THIS OFFER.  I 
 23.25  UNDERSTAND THAT NEGOTIATING OR AGREEING TO AN ARRANGEMENT TO 
 23.26  SELL THE AGRICULTURAL LAND TO ANOTHER PERSON PRIOR TO ACCEPTING 
 23.27  THIS OFFER MAY BE A VIOLATION OF LAW AND I MAY BE LIABLE TO A 
 23.28  PERSON DAMAGED BY THE SALE. 
 23.29  
 23.30       .........................................
 23.31       Signature of Former Owner Accepting Offer 
 23.32  
 23.33       .........................................
 23.34       Date" 
 23.35                          IMPORTANT NOTICE
 23.36     ANY ACTION FOR THE RECOVERY OF THE AGRICULTURAL LAND 
 23.37  DESCRIBED ABOVE OR ANY ACTION FOR DAMAGES, EXCEPT FOR DAMAGES 
 24.1   FOR FRAUD, REGARDING THIS OFFER MUST BE COMMENCED BY A LAWSUIT 
 24.2   BEFORE THE EXPIRATION OF THREE YEARS AFTER THIS LAND IS SOLD TO 
 24.3   ANOTHER PARTY.  UPON FILING A LAWSUIT, YOU MUST ALSO FILE A 
 24.4   NOTICE OF LIS PENDENS WITH THE COUNTY RECORDER OR REGISTRAR OF 
 24.5   TITLES IN THE COUNTY WHERE THE LAND IS LOCATED. 
 24.6      (b) For an offer to sell, a copy of the purchase agreement 
 24.7   containing the price and terms of the highest offer made by a 
 24.8   third party that is acceptable to the seller and a signed 
 24.9   affidavit by the seller affirming that the purchase agreement is 
 24.10  true, accurate, and made in good faith must be included with the 
 24.11  notice under this subdivision.  At the seller's discretion, 
 24.12  reference to the third party's identity may be deleted from the 
 24.13  copy of the purchase agreement. 
 24.14     (c) For an offer to lease, a copy of the lease containing 
 24.15  the price and terms of the highest offer made by a third party 
 24.16  that is acceptable to the lessor and a signed affidavit by the 
 24.17  lessor affirming that the lease is true, accurate, and made in 
 24.18  good faith must be included with the notice under this 
 24.19  subdivision.  At the lessor's discretion, reference to the third 
 24.20  party's identity may be deleted from the copy of the lease 
 24.21  agreement. 
 24.22     (d) The affidavit under paragraphs (b) and (c) is subject 
 24.23  to section 609.48.