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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 6. (a) When purchasing grain, a grain buyer, a grain buyer's agent, or a grain buyer's representative shall:
(1) deduct the producer premium described in section 4 of this chapter from the producer's payment; and
(2) document the producer premium paid by the producer.
(b) A grain buyer shall submit producer premiums collected under subsection (a) to the board for the purpose of financing or contributing to the financing of the fund by:
(1) October 31 for producer premiums collected during the months of July, August, and September;
(2) January 31 for producer premiums collected during the months of October, November, and December;
(3) April 30 for producer premiums collected during the months of January, February, and March; and
(4) July 31 for producer premiums collected during the months of April, May, and June.
Each grain buyer shall, in accordance with the time frame set forth in this subsection, remit to the corporation the producer premium along with the remittance form provided by the corporation and completed by the grain buyer.
Cite this article: FindLaw.com - Indiana Code Title 26. Commercial Law § 26-4-4-6 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-26-commercial-law/in-code-sect-26-4-4-6/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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