(a) As used in this act:
(i) "First mortgage" means first and superior liens on farm lands except as hereinafter provided, the fee simple title to which is in the proposed borrower;
(ii) "Farm land," "farm" and "farms" includes:
(A) Lands used principally for raising agricultural products;
(B) Lands used principally for dairying purposes; and (C) Lands or ranches used principally for livestock purposes.
(iii) "Board" means the state loan and investment board;
(iv) "This act" means W.S. 11-34-101 through 11-34- 203.