AB630-ASA1, s. 28
18Section
28. 100.03 (6) (b) 4. of the statutes is amended to read:
AB630-ASA1,9,2319
100.03
(6) (b) 4. If a producer tenders or delivers
farm products vegetables to
20a contractor after December 31 of any registration year, the contractor shall pay the
21producer for the
farm products vegetables by the 15th day of the month following the
22month in which the
farm products vegetables were tendered or delivered, or
within
2330 days by the 30th day after tender or delivery
, whichever is later.
AB630-ASA1, s. 29
24Section
29. 100.03 (7) (a) 1. of the statutes is amended to read:
AB630-ASA1,10,2
1100.03
(7) (a) 1.
The contractor's A minimum ratio of current assets to current
2liabilities
shall be at least of 1.2 to
1 1.0 on its annual financial statement.
AB630-ASA1, s. 30
3Section
30. 100.03 (7) (a) 2. of the statutes is repealed and recreated to read:
AB630-ASA1,10,54
100.03
(7) (a) 2. A minimum ratio of current assets to current liabilities of 1.0
5to 1.0 at all times of the year other than the end of the contractor's fiscal year.
AB630-ASA1,10,87
100.03
(7) (a) 3. Equity equal to at least 20% of total assets on its annual
8financial statement and at least 10% at all other times.
AB630-ASA1, s. 32
9Section
32. 100.03 (7) (c) (intro.) of the statutes is amended to read:
AB630-ASA1,10,1210
100.03
(7) (c)
Exemptions. (intro.)
A Paragraph (a) does not apply to a 11contractor
is not required to meet the financial standards under par. (a) if any of the
12following applies:
AB630-ASA1, s. 33
13Section
33. 100.03 (7) (c) 1. of the statutes is amended to read:
AB630-ASA1,10,1514
100.03
(7) (c) 1. The contractor makes payment on delivery for all
farm
15products vegetables obtained from producers.
AB630-ASA1,10,2319
100.03
(8) (cm)
Transitional security amounts. Notwithstanding par. (c), a
20contractor who does not meet the financial standards under sub. (7) but who does
21have a ratio of current assets to current liabilities of at least 1.2 to 1.0 on its annual
22financial statement and whose total assets exceed total liabilities shall file security
23in at least the following amounts for the license years indicated:
AB630-ASA1,11,3
11. For the first license year beginning after the effective date of this subdivision
2.... [revisor inserts date], 25% of the contractor's anticipated maximum liability to
3growers of vegetables.
AB630-ASA1,11,64
2. For the 2nd license year beginning after the effective date of this subdivision
5.... [revisor inserts date], 50% of the contractor's anticipated maximum liability to
6growers of vegetables.
AB630-ASA1,11,108
100.03
(8) (e)
Prohibition. No contractor may assess a separate line item
9deduction from the payment to the grower to recover the cost of security filed under
10this section.
AB630-ASA1, s. 38
11Section
38. 100.03 (15) (title) of the statutes is amended to read:
AB630-ASA1,11,1212
100.03
(15) (title)
Farm product Vegetable grading and tare.
AB630-ASA1, s. 39
13Section
39. 100.03 (15) (a) (intro.) of the statutes is amended to read:
AB630-ASA1,11,1714
100.03
(15) (a)
Grading procedures and grade standards. (intro.) If under a
15procurement contract the amount received by the producer depends on the grade of
16the
farm products vegetables, the
farm products vegetables shall be graded in
17compliance with all of the following:
AB630-ASA1,11,2019
100.03
(15) (c)
Price-fixing not permitted. This subsection does not fix or
20regulate the price paid for any
farm product vegetable.
AB630-ASA1,12,622
100.03
(18) Summary order requiring payment on delivery. If the department
23has reasonable grounds to believe that a contractor does not meet the minimum
24financial standards under sub. (7), and does not have adequate security on file under
25sub. (8), the department may issue a summary special order requiring the contractor
1to make payment on delivery for all
farm products vegetables. A summary special
2order shall set forth the specific basis for the order. The order shall remain in effect
3until the contractor meets the financial standards under sub. (7) or files adequate
4security under sub. (8). A person adversely affected by a special order under this
5section shall be given a prompt hearing before the department upon request, under
6ch. 227.
AB630-ASA1, s. 42
7Section
42. 100.03 (19) (a) (intro.) of the statutes is amended to read:
AB630-ASA1,12,128
100.03
(19) (a)
Grounds. (intro.) The department may summarily suspend the
9contractor's registration certificate when necessary to prevent clear and imminent
10harm to producers if the department has reasonable grounds to believe that a
11contractor has failed to make payment on delivery for
farm products vegetables,
12procured from producers, contrary to any of the following:
AB630-ASA1,12,19
14(1) Farm product producer security. In the schedule under section 20.005 (3)
15of the statutes for the appropriation to the department of agriculture, trade and
16consumer protection under section 20.115 (1) (gm) of the statutes, as affected by the
17acts of 1995, the dollar amount is decreased by $32,500 for fiscal year 1995-96 and
18the dollar amount is decreased by $32,500 for fiscal year 1996-97 to decrease funding
19for the purposes for which the appropriation is made.