247.515 Definitions.

221 words·~1 min read·/ky/chapter-247/247-515

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

As used in KRS 247.510 to 247.595 unless the context otherwise requires:

(1)"Commissioner" means the Commissioner of Agriculture;

(2)"Board" means the State Board of Agriculture;

(3)"Producer" means every person who produces soybeans and thereafter causes the

same to be marketed;

(4)"New producer" means a producer who was not engaged in the business of

producing soybeans at the time a referendum was conducted in accordance with the

provisions of KRS 247.510 to 247.595;

(5)"Person" means any individual, corporation, partnership, association, cooperative,

or other business entity;

(6)"Marketing year" means from July 1 to June 30 of the following year;

(7)"Purchaser" means any person, public or private corporation, federal commodity

credit corporation, association, or partnership buying, accepting for shipment, or

otherwise acquiring the property in or to soybeans from a producer, and shall

include a mortgagee, pledgee, lienor, or other person, public or private, having a

claim against the producer, when the actual or constructive possession of such

soybeans is taken as part payment or in satisfaction of such mortgage, pledge, lien,

or claim;

(8)"Net market price" means the sales price or other value received by a producer for

soybeans after adjustments have been made for any premium or discount based on

grading or quality factors; and

(9)"Promotion board" means the Kentucky Soybean Promotion Board.