Delaware § 3167 Financial statement; acceptance in lieu of surety

Delaware Statutes

§ 3167 — Financial statement; acceptance in lieu of surety

Delaware § 3167

JurisdictionDelaware

Title3

PartMarketing of Agricultural Products

Ch. 31MILK, CREAM AND OTHER MILK PRODUCTS; CONTAINERS

Subch.Dealers’ and Handlers’ Bonds

This text of Delaware § 3167 (Financial statement; acceptance in lieu of surety) is published on Counsel Stack Legal Research, covering Delaware primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Del. Code tit. 3, § 3167 (2026).

Text

(a)A milk dealer or handler shall, from time to time, when required by the Department of Agriculture, make and file with such Department a verified statement of his or her disbursements, or of any other facts in connection with his or her business, during a period to be prescribed by the Department, which financial statement shall contain the names of the producers from whom milk was purchased, acquired, received or handled on consignment or otherwise, the amount due to the producers, and any other relevant facts required by the Department pertinent to the dealer or handler or the dealer’s or handler’s surety or sureties.

(b)In lieu of, and notwithstanding any and all provisions contained in this subchapter to the contrary, and in particular any and all provisions requiring a milk deale

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(a) A milk dealer or handler shall, from time to time, when required by the Department of Agriculture, make and file with such Department a verified statement of his or her disbursements, or of any other facts in connection with his or her business, during a period to be prescribed by the Department, which financial statement shall contain the names of the producers from whom milk was purchased, acquired, received or handled on consignment or otherwise, the amount due to the producers, and any other relevant facts required by the Department pertinent to the dealer or handler or the dealer’s or handler’s surety or sureties.

(b) In lieu of, and notwithstanding any and all provisions contained in this subchapter to the contrary, and in particular any and all provisions requiring a milk dealer or handler to file a corporate surety, or individual surety, or collateral bond, the Department of Agriculture may accept of and from any milk dealer or handler who has been continuously engaged in such business in this State for a period of 7 years prior thereto a complete current financial statement of all the assets and liabilities of such dealer or handler, verified under oath by such dealer or handler or an authorized agent thereof; which financial statement shall be in such form and in such detail as the Department prescribes from time to time.

(c) Whoever wilfully falsifies any such financial statement, in whole or in part, is guilty of making a false written statement in violation of § 1233 of Title 11 and shall be punished accordingly.

(d) If the Department of Agriculture determines from the financial statement that the fair net worth of the milk dealer or handler is at least equal to the amount of corporate surety, or individual surety, or collateral bond which such milk dealer or handler would otherwise be required to file, the Department may accept such milk dealer’s or handler’s bond and financial statement without requiring any corporate or individual surety thereon or collateral to be posted therewith.