AB630,9,324 100.03 (6) (b) 1. If a procurement contract does not specify a payment date in
25writing, the contractor shall pay a liability to a producer by the 15th day of the month

1immediately following the month in which the producer tendered or delivered the
2farm products vegetables under the contract, or by an earlier date agreed upon
3between the parties.
AB630, s. 25 4Section 25. 100.03 (6) (b) 3. of the statutes is amended to read:
AB630,9,185 100.03 (6) (b) 3. By January 31 10 of each registration year, a contractor shall
6pay for all farm products vegetables that were delivered by producers on or before
7December 31 of that registration year. This requirement does not apply if a written
8contract specifying a later payment date was approved by a vote of producers who
9delivered farm products vegetables to the contractor during the preceding
10registration year. To obtain the approval of producers, a contractor shall give
11advance written notice to every eligible producer. The notice shall include a copy of
12the proposed contract and shall announce a meeting at which producers will be asked
13to vote on the proposed contract. The notice shall also include a mail ballot by which
14a producer may cast his or her vote without attending the meeting. Voting shall be
15by secret ballot. The proposed contract shall be approved by a majority of the
16producers who vote on the proposed contract. The contractor shall file a sworn
17statement with the department, on a form provided by the department, certifying the
18results of the balloting.
AB630, s. 26 19Section 26. 100.03 (6) (b) 4. of the statutes is amended to read:
AB630,9,2420 100.03 (6) (b) 4. If a producer tenders or delivers farm products vegetables to
21a contractor after December 31 of any registration year, the contractor shall pay the
22producer for the farm products vegetables by the 15th day of the month following the
23month in which the farm products vegetables were tendered or delivered, or within
2430 days
by the 30th day after tender or delivery , whichever is later.
AB630, s. 27 25Section 27. 100.03 (7) (a) 1. of the statutes is amended to read:
AB630,10,2
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, s. 28 3Section 28. 100.03 (7) (a) 2. of the statutes is repealed and recreated to read:
AB630,10,54 100.03 (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, s. 29 6Section 29. 100.03 (7) (a) 3. of the statutes is created to read:
AB630,10,77 100.03 (7) (a) 3. Equity equal to at least 25% of total assets at all times.
AB630, s. 30 8Section 30. 100.03 (7) (c) (intro.) of the statutes is amended to read:
AB630,10,119 100.03 (7) (c) Exemptions. (intro.) A Paragraph (a) does not apply to a
10contractor is not required to meet the financial standards under par. (a) if any of the
11following applies:
AB630, s. 31 12Section 31. 100.03 (7) (c) 1. of the statutes is amended to read:
AB630,10,1413 100.03 (7) (c) 1. The contractor makes payment on delivery for all farm
14products
vegetables obtained from producers.
AB630, s. 32 15Section 32. 100.03 (8) (b) 6. of the statutes is repealed.
AB630, s. 33 16Section 33. 100.03 (8) (bm) of the statutes is repealed.
AB630, s. 34 17Section 34. 100.03 (8) (cm) of the statutes is created to read:
AB630,10,2218 100.03 (8) (cm) Transitional security amounts. Notwithstanding par. (c), a
19contractor who does not meet the financial standards under sub. (7) but who does
20have a ratio of current assets to current liabilities of at least 1.2 to 1.0 on its annual
21financial statement and whose total assets exceed total liabilities shall file security
22in at least the following amounts for the license years indicated:
AB630,10,2523 1. For the first license year beginning after the effective date of this subdivision
24.... [revisor inserts date], 25% of the contractor's anticipated maximum liability to
25growers of vegetables.
AB630,11,3
12. For the 2nd license year beginning after the effective date of this subdivision
2.... [revisor inserts date], 50% of the contractor's anticipated maximum liability to
3growers of vegetables.
AB630, s. 35 4Section 35. 100.03 (15) (title) of the statutes is amended to read:
AB630,11,55 100.03 (15) (title) Farm product Vegetable grading and tare.
AB630, s. 36 6Section 36. 100.03 (15) (a) (intro.) of the statutes is amended to read:
AB630,11,107 100.03 (15) (a) Grading procedures and grade standards. (intro.) If under a
8procurement contract the amount received by the producer depends on the grade of
9the farm products vegetables, the farm products vegetables shall be graded in
10compliance with all of the following:
AB630, s. 37 11Section 37. 100.03 (15) (c) of the statutes is amended to read:
AB630,11,1312 100.03 (15) (c) Price-fixing not permitted. This subsection does not fix or
13regulate the price paid for any farm product vegetable.
AB630, s. 38 14Section 38. 100.03 (18) of the statutes is amended to read:
AB630,11,2415 100.03 (18) Summary order requiring payment on delivery. If the department
16has reasonable grounds to believe that a contractor does not meet the minimum
17financial standards under sub. (7), and does not have adequate security on file under
18sub. (8), the department may issue a summary special order requiring the contractor
19to make payment on delivery for all farm products vegetables. A summary special
20order shall set forth the specific basis for the order. The order shall remain in effect
21until the contractor meets the financial standards under sub. (7) or files adequate
22security under sub. (8). A person adversely affected by a special order under this
23section shall be given a prompt hearing before the department upon request, under
24ch. 227.
AB630, s. 39 25Section 39. 100.03 (19) (a) (intro.) of the statutes is amended to read:
AB630,12,5
1100.03 (19) (a) Grounds. (intro.) The department may summarily suspend the
2contractor's registration certificate when necessary to prevent clear and imminent
3harm to producers if the department has reasonable grounds to believe that a
4contractor has failed to make payment on delivery for farm products vegetables,
5procured from producers, contrary to any of the following:
AB630,12,66 (End)
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