§ 2-20-402 — Definitions

As used in this subchapter, unless the context otherwise requires: (1) "Board" means the Arkansas Soybean Promotion Board created under this subchapter; (2) "Net market price" means: (A) The sales price or value received by a producer for soybeans after adjustments for any premium or discount based on grading or quality factors, as determined by the secretary; or (B) 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; (3) "Secretary" means the United States Secretary of Agriculture; (4) "Soybean Promotion, Research and Consumer Information Act" means the federal Soybean Promotion, Research and Consumer Information Act of 1990, Subtitle E of Title XIX, of the Food, Agriculture, Conservation and Trade Act of 1990, P.L. No. 101-624, as amended from time to time, and any order issued pursuant thereto by the secretary; and (5) "United Soybean Board" means the United Soybean Board created by the Soybean Promotion, Research and Consumer Information Act.

Legislative History

Acts 1991, No. 340, § 2.