Minnesota Statutes

§ 223.16 — DEFINITIONS

Minnesota § 223.16
JurisdictionMinnesota
PartFARM PRODUCTS, COMMERCIAL PRACTICES
Ch. 223GRAIN BUYERS

This text of Minnesota § 223.16 (DEFINITIONS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Minn. Stat. § 223.16 (2026).

Text

Subdivision 1.Applicability. For the purpose of sections223.15to223.23, the terms defined in this section have the meanings given them. Subd. 2.Bond. "Bond" means an obligation acceptable to and running to the state, as obligee, for the purpose of indemnifying producers of grain against the breach of a contract by a grain buyer. Subd. 2a.Cash sale.

(a)"Cash sale" means a sale that is not reduced to writing as a voluntary extension of credit contract and for which payment is tendered to the seller not later than the close of business on the next business day after the sale, either in cash or by check, or by mailing or wiring funds to the seller's account.
(b)For the purposes of this subdivision, "cash" means currency or an equivalent manner of payment including but not limited to a cer

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Legislative History

1982 c 635 s 3;1983 c 374 s 1-7,20;1986 c 444;1988 c 688 art 14 s 1;2000 c 477 s 60;2002 c 373 s 31;2004 c 254 s 27,28;2012 c 244 art 1 s 51;1Sp2019 c 1 art 4 s 1-3;2020 c 89 art 4 s 30;2023 c 43 art 2 s 126

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15
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Bluebook (online)
Minnesota § 223.16, Counsel Stack Legal Research, https://law.counselstack.com/statute/mn/223.16.