§ 55405
49 words·~1 min read·
/ca/food-and-agricultural-code/55405·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“New value” includes any new advance or loan, whether in money or other property, which is made by a lender to a processor. It does not, however, include any extension or renewal of any existing obligation of the processor, nor any obligation which is substituted for such existing obligation.