2011 California Code
Food and Agricultural Code
DIVISION 21. MARKETING [58001 - 63129]
ARTICLE 5. Bonding and Payment for Manufacturing Milk
Section 61407.3
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.
(Added by Stats. 1987, Ch. 156, Sec. 8. Effective July 10, 1987.)
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