§ 61407.3. — 61407.3. (Added by Stats. 1987, Ch. 156, Sec. 8.)

California § 61407.3.

• Jurisdiction: California
• Code FAC: Food and Agricultural Code - FAC
• Div. 21.: DIVISION 21. MARKETING
• Part 3.: PART 3. MARKETING LAWS REGARDING PARTICULAR PRODUCTS
• Ch. 1.: CHAPTER 1. Marketing of Milk and Other Dairy Products
• Art. 5.: ARTICLE 5. Bonding and Payment for Manufacturing Milk

Text

Payments by a handler to a producer, for the purposes of any action on a handler’s bond for any year, shall be credited first to interest and then to principal due, owed, and unpaid. Amounts to be applied to the principal shall be applied first to the amount owed for the most recent deliveries and then successively, in descending order, to the amounts owed to the next most recent deliveries.

Legislative History

Added by Stats. 1987, Ch. 156, Sec. 8. Effective July 10, 1987.