247.515 Definitions.
As used in KRS 247.510 to 247.595 unless the context otherwise requires: <br>(1) "Commissioner" means the Commissioner of Agriculture; <br>(2) "Board" means the State Board of Agriculture; <br>(3) "Producer" means every person who produces soybeans and thereafter causes the
same to be marketed;
(4) "New producer" means a producer who was not engaged in the business of
producing soybeans at the time a referendum was conducted in accordance with the <br>provisions of KRS 247.510 to 247.595;
(5) "Person" means any individual, corporation, partnership, association, cooperative,
or other business entity;
(6) "Marketing year" means from July 1 to June 30 of the following year; <br>(7) "Purchaser" means any person, public or private corporation, federal commodity
credit corporation, association, or partnership buying, accepting for shipment, or <br>otherwise acquiring the property in or to soybeans from a producer, and shall <br>include a mortgagee, pledgee, lienor, or other person, public or private, having a <br>claim against the producer, when the actual or constructive possession of such <br>soybeans is taken as part payment or in satisfaction of such mortgage, pledge, lien, <br>or claim;
(8) "Net market price" means the sales price or other value received by a producer for
soybeans after adjustments have been made for any premium or discount based on <br>grading or quality factors; and
(9) "Promotion board" means the Kentucky Soybean Promotion Board.
Effective: July 14, 1992 <br>History: Amended 1992 Ky. Acts ch. 45, sec. 1, effective July 14, 1992. -- Amended
1986 Ky. Acts ch. 180, sec. 1, effective July 15, 1986. -- Created 1974 Ky. Acts <br>ch. 83, sec. 2.
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