126.55 Definitions.
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/wi/chapter-126/126-55-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
126.55 Definitions. In this subchapter:
(1)“Cash on delivery” means cash payment of the full agreed price for processing vegetables at the time of delivery or, if the vegetables are graded, within 72 hours after the time of delivery.
(2)“Cash payment” means payment in any of the following forms:
(a)Currency.
(b)A cashier’s check, or a check that a bank issues and certifies.
(c)A wire transfer.
(d)Simultaneous barter.
(3)“Contract obligation” means the net amount, whether paid or unpaid, that a vegetable contractor owes a vegetable producer or producer agent under a vegetable procurement contract. “Contract obligation” includes a net amount owed for unharvested acreage.
(4)“Contributing vegetable contractor” means a vegetable contractor who is licensed under s. 126.56
(1), who either has paid one or more quarterly installments under s. 126.60
(6)or is required to contribute to the fund, but the first quarterly installment under s. 126.60
(6)is not yet due, who has not elected not to participate in the fund under s. 126.595
(1), and who is not disqualified under s. 126.59
(2).
(6)“Current ratio” means the ratio of the value of current assets to the value of current liabilities, calculated according to s. 126.58
(c)1.