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2025 California Code
Food and Agricultural Code - FAC
DIVISION 20 - PROCESSORS, STORERS, DEALERS, AND DISTRIBUTORS OF AGRICULTURAL PRODUCTS
CHAPTER 6 - Processors of Farm Products
ARTICLE 1 - Definitions
Section 55405.
Universal Citation:
CA Food & Agri Code § 55405 (2025)
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55405. “New value” includes any new advance or loan, whether in money or other property, which is made by a lender to a processor. It does not, however, include any extension or renewal of any existing obligation of the processor, nor any obligation which is substituted for such existing obligation.
(Enacted by Stats. 1967, Ch. 15.)
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