| (a) Except as otherwise provided by state law, by these
rules, or by resolution of the board, the staff, with the approval
of the commissioner, the deputy commissioner of agriculture, or the
official of the department designated by the commissioner of agriculture
as being responsible for the department's agricultural finance programs,
shall have the authority to act on behalf of the Authority, without
specific board approval, in regard to the ongoing servicing, collection,
settlement, and enforcement of each and every loan guaranteed by the
Authority under the program. Such authority shall include, without
limitation, the actions required to be taken by the Authority under
any loan agreement, and any other agreement entered into by the Authority
concerning a loan guaranteed by the Authority under the program.
(b) Nothing in this section shall prevent the staff
or the commissioner, the deputy commissioner, or the official of the
department designated by the commissioner of agriculture from submitting
any matter to the board for its consideration and approval.
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