KOREA RURAL COMMUNITY CORPORATION AND FARMLAND MANAGEMENT FUND ACT

CHAPTER I GENERAL PROVISIONS

Article 1(Purpose) #

The purpose of this Act is to contribute to increasing agricultural productivity and the economic and social development of rural communities by performing projects for improving rural communities and farmland banking projects, comprehensively managing agricultural infrastructure and promoting the rationalization of the scale of farming for farmers, through the incorporation of the Korea Rural Community Corporation and the establishment of the Farmland Management Fund.

[This Article Wholly Amended on Dec. 29, 2008]

Article 2(Definitions) #

The terms used in this Act are defined as follows: <Amended on Jun. 14, 2011; Mar. 23, 2013; Jan. 20, 2015>

1. The term "agricultural infrastructure" means agricultural production infrastructure defined in subparagraph 6 of Article 2 of the Rearrangement of Agricultural and Fishing Villages Act;

2. The term "areas managed by the Corporation" means sites for agricultural infrastructure managed by the Korea Rural Community Corporation and areas supplied with agricultural water from agricultural infrastructure;

3. The term "farmland" means farmland under subparagraph 1 of Article 2 of the Farmland Act;

4. The term "farmer" means a farmer defined in subparagraph 2 of Article 2 of the Farmland Act;

5. The term "agricultural corporation" means an agricultural corporation under subparagraph 3 of Article 2 of the Farmland Act;

6. The term "professional farmer" means a farmer who can play a pivotal and leading role in agricultural development, and has farmland exceeding the scale prescribed by Decree of the Ministry of Agriculture, Food and Rural Affairs, and agricultural labor;

7. The term "management right to agricultural infrastructure" means a right to maintain and manage agricultural infrastructure and collect charges from users of such infrastructure or who are supplied with water from such infrastructure;

8. The term "funded debts" means debts contracted by a performer of a project for improving agricultural production infrastructure prescribed in the Rearrangement of Agricultural and Fishing Villages Act for the project for improving agricultural production infrastructure, by borrowing money provided from the general accounts of the Government and the loan account of the Public Capital Management Fund prescribed in the Public Capital Management Fund Act from financial institutions, and by obtaining loans from international financial organizations (including a foreign government fund);

KOREA RURAL COMMUNITY CORPORATION AND FARMLAND MANAGEMENT FUND ACT

Article 1(Purpose) #

Article 2(Definitions) #

Article 3(Incorporation) #

Article 4(Juristic person) #

Article 5(Offices) #

Article 5-2(Farmland banking management agency) #

Article 6(Capital and investment) #

Article 7(Registration) #

Article 8 #

Article 9(Appointment of agents) #

Article 10(Projects) #

Article 11(Establishment and management of areas managed by corporation) #

Article 12(Change of areas managed by corporation) #

Article 13(Users of agricultural water) #

Article 14(Duty to supply agricultural water and collection of usage charges) #

Article 15(Disposition on default of usage charges) #

Article 16(Filing objections) #

Article 17(Autonomous management by users of agricultural water) #

Article 18(Projects for trade of farmland) #

Article 19(Projects for long-term lease of farmland) #

Article 20(Projects for purchase and sale of long-term leased reclaimed farmland) #

Article 21(Support of return to farming of farmers who changed their occupation) #

Article 22(Exchange, division, consolidation of farmland) #

Article 23(Accommodation of funds for projects for trade of farmland) #

Article 24(Redevelopment of Farmland) #

Article 24-2(Purchase, sale of farmland) #

Article 24-3(Purchase of farmland to support business workout) #

Article 24-4(Entrustment of Lease of farmland) #

Article 24-5(Projects to support stabilization of livelihood of farmers in their old age with farmland as security) #

Article 24-6(Exclusive farmland pension accounts) #

Article 24-7(Protection of entitlement) #

Article 25(Raising of funds) #

Article 26(Borrowings) #

Article 27(Issuance of corporate bonds) #

Article 28(Dealing with profits and losses) #

Article 29(Subsidies) #

Article 30(Special cases concerning accounting of corporation) #

Article 31(Establishment of Farmland Management Fund) #

Article 32(Creation of Fund) #

Article 33(Borrowing Funds) #

Article 34(Use of Fund) #

Article 35(Operation and Management of Fund) #

Article 36 #

Article 37(Accounting institution for Fund) #

Article 38(Collection of loans) #

Article 39(Settlement of accounts of Fund) #

Article 40(Relationships with the Act on the Management of Public Institutions) #

Article 41(Subrogation of entrustment of registration) #

Article 42(Exclusion from application of other Acts) #

Article 43 #

Article 44(Special cases on disposition of land created) #

Article 45(Creation and registration of management rights to agricultural infrastructure) #

Article 46(Character of management rights to agricultural infrastructure) #

Article 47(Request for provision of data) #

Article 48(Perusal of related documents) #

Article 49(Supervision) #

Article 50 #

Article 50-2(Prohibition of use of similar names) #

Article 50-3(Prohibition of divulgence of confidential information) #

Article 51(Penalty provisions) #

Article 52(Administrative fines) #