This Act establishes the Liberia Rubber Development Authority, formerly the Liberian Rubber Development Unit (LRDU), established in 1978 under the Ministry of Agriculture. The Authority shall be a corporate body of the Government of the Republic of Liberia. The primary objectives of the Liberia Rubber Development Authority shall include: a) engage in scientific research relating to all aspects of production and distribution of rubber; b) engage in the rehabilitation of rubber farms; c) engage in the establishment and organization of cooperatives; d) assist in the processing and exportation of rubber. 

The Act also specifies general registration requirements for rubber farms, brokers and exporters, which are renewable each year and affirms that no Law, Executive Order, or Regulation shall deprive Liberian citizens of their right to own, operate and administer rubber farms.