§2882. Exemptions from filing bond

Link to law: http://legislature.vermont.gov/statutes/section/06/157/02882
Published: 2015

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The Vermont Statutes Online



Title

06

:
Agriculture






Chapter

157

:
BONDS











 

§

2882. Exemptions from filing bond

(a) A milk

cooperative or a nonprofit cooperative association organized under Vermont law

or similar laws in other states shall not be required to furnish surety as

provided in section 2881 of this title for payments made to a milk cooperative

or to a producer who is a member of a milk cooperative.

(b) A handler

who does not purchase milk from Vermont producers or milk cooperatives either

directly or through a marketing service owned by one or more cooperatives shall

not be required to furnish surety as provided under section 2881 of this title.

(c) A handler

who pays for milk in advance or at the time of delivery shall not be required

to furnish surety as provided under section 2881 of this title. Every producer,

or milk cooperative either directly or through a marketing service owned by the

cooperatives, selling milk to handlers who pay for milk in advance or at the

time of delivery shall, on July 1 of each year, notify the secretary in writing

of the identity of each handler and shall promptly notify the secretary in

writing of any changes to the most recent notification.

(d) A handler

who purchases fewer than 150,000 pounds of milk per month from a milk

cooperative, either directly or through a marketing service owned by one or

more cooperatives, shall not be required to furnish surety as provided under

section 2881 of this title. (Added 1965, No. 175, § 25; amended 2009, No. 48, §

6, eff. May 28, 2009; 2011, No. 39, § 6, eff. May 19, 2011.)
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