Delaware § 3174 Distribution of proceeds of bond or collateral

Delaware Statutes

§ 3174 — Distribution of proceeds of bond or collateral

Delaware·Title 3·Part Marketing of Agricultural Products·Ch. 31 MILK, CREAM AND OTHER MILK PRODUCTS; CONTAINERS·Subch. Dealers’ and Handlers’ Bonds

The Department of Agriculture shall prescribe the procedure for the payment, out of the proceeds of any bond or collateral required by this subchapter, of the amounts found due to producers or handlers or dealers, based on sales or deliveries of milk by them to a milk dealer or handler who has posted a bond or collateral. If the proceeds of a bond or of collateral which has been posted by a milk dealer or handler shall be insufficient to pay in full the amounts due to producers who have sold or supplied milk to such milk dealer or handler, the moneys available shall be divided pro rata among such producers.

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The Department of Agriculture shall prescribe the procedure for the payment, out of the proceeds of any bond or collateral required by this subchapter, of the amounts found due to producers or handlers or dealers, based on sales or deliveries of milk by them to a milk dealer or handler who has posted a bond or collateral. If the proceeds of a bond or of collateral which has been posted by a milk dealer or handler shall be insufficient to pay in full the amounts due to producers who have sold or supplied milk to such milk dealer or handler, the moneys available shall be divided pro rata among such producers.

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