Arizona § 3-1087 Deposit of fees; rebates; use of monies on termination

Arizona Statutes

§ 3-1087 — Deposit of fees; rebates; use of monies on termination

Arizona·Title 3 Arizona Revised Statutes·Ch. 10 COTTON RESEARCH AND PROTECTION·Art. 1 Cotton Research and Protection Council

A.Monies collected pursuant to sections 3-1086, 3-1086.01 and 3-1086.02 shall be deposited and held in trust in the council's accounts and disbursed as approved by the council for the purposes prescribed in this article.

B.The council may use monies collected under section 3-1086 as a rebate to cotton producers to facilitate a program to provide incentives for the timely plow up of cotton fields according to the dates established by rules adopted pursuant to chapter 2, article 1 of this title to maintain a host-free period. The council shall issue a rebate only on certification by the council that the cotton field has been plowed up. With the approval of the cotton producer, the rebate may be assigned to a lending institution.

C.If the council is terminated, any monies in the council

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A. Monies collected pursuant to sections 3-1086, 3-1086.01 and 3-1086.02 shall be deposited and held in trust in the council's accounts and disbursed as approved by the council for the purposes prescribed in this article.

B. The council may use monies collected under section 3-1086 as a rebate to cotton producers to facilitate a program to provide incentives for the timely plow up of cotton fields according to the dates established by rules adopted pursuant to chapter 2, article 1 of this title to maintain a host-free period. The council shall issue a rebate only on certification by the council that the cotton field has been plowed up. With the approval of the cotton producer, the rebate may be assigned to a lending institution.

C. If the council is terminated, any monies in the council's accounts shall be expended to meet existing legal obligations of the council. The council shall expend any remaining monies on any program consistent with this article.

D. The monies in the account may be invested pursuant to section 35-313. Interest earned on these monies shall be credited to the account.

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