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Code · Minnesota · Chapter 31

31B.06 PACKER AND PROCESSOR ACCOUNTING REQUIREMENTS.

105 words·~1 min read·/mn/chapter-31/31b-06

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31B.06 PACKER AND PROCESSOR ACCOUNTING REQUIREMENTS.
Hog, cattle, sheep, and dairy processors with annual sales greater than $10,000,000 are required to conduct all financial transactions relating to a contract feeding operation through a separate and exclusive bank account. This separate account is subject to audit and inspection at any reasonable time by the commissioner.
Grain and feed businesses with annual sales greater than $10,000,000 are required to conduct all financial transactions relating to contract feeding of hogs, cattle, sheep, or dairy cows through a separate and exclusive bank account. This separate account is subject to audit and inspection at any reasonable time by the commissioner.
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