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Code · Illinois · Chapter 505 — AGRICULTURE · Act 130

Sec. 3. For the purpose of this Act, unless the context clearly requires otherwise:.

284 words·~1 min read·/il/chapter-505/act-130/3

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Sec. 3. For the purpose of this Act, unless the context clearly requires otherwise:
(a)"Soybean" means and includes all kinds and varieties of soybeans grown in this State and marketed and sold as soybeans by the producer.
(b)"Person" means any natural person, partnership, corporation, society, association, representative or other fiduciary.
(c)"Producer" means any person engaged in this State in the business of producing and marketing soybeans, unless otherwise defined in marketing program.
(d)"First purchaser" means any person who resells soybeans purchased from a producer or offers for sale any product produced from such soybeans for any purpose.
(e)"Market Development" means to engage in research and educational programs directed toward better and more efficient utilization of soybeans; to provide methods and means for the maintenance of present markets; for the development of new and larger domestic and foreign markets.
(f)"Marketing program" means any program established under this Act which prescribes procedures for the development of markets for soybeans and soybean products.
(g)"Program operating board" means the board established by any marketing program to administer such programs.
(h)"Director" means the Director of the Department of Agriculture of the State of Illinois.
(i)"Department" means the Department of Agriculture of the State of Illinois.
(j)"Bushel" means 60 pounds of soybeans by weight.
(k)"Net market price" means:
(1)except as provided in item (2), the sales price or other value received by a
producer for soybeans after adjustments for any premium or discount based on grading or quality factors; or
(2)for soybeans pledged as collateral for a loan issued under any price support loan
program administered by the Commodity Credit Corporation, the principal amount of the loan.
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