Arizona Laws 3-581. Definitions
In this article, unless the context otherwise requires:
Terms Used In Arizona Laws 3-581
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Council: means the Arizona grain research and promotion council. See Arizona Laws 3-581
- First buyer: means a person, partnership, corporation or cooperative that purchases grain from a producer in the first instance or a public or private lienholder, secured party or pledgee, or assignee of the lienholder, secured party or pledgee, who gains title to the grain from the grower as a result of exercising any legal rights by the lienholder, secured party, pledgee or assignee regardless of when the lien, security interest or pledge was created. See Arizona Laws 3-581
- Grain: means the seed of barley and wheat of all classes produced for use as food, feed or seed or produced for any industrial or commercial use. See Arizona Laws 3-581
- Lien: A claim against real or personal property in satisfaction of a debt.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Producer: means a person, partnership, corporation or cooperative in this state that produces and sells grain in commercial channels. See Arizona Laws 3-581
1. "Council" means the Arizona grain research and promotion council.
2. "First buyer" means a person, partnership, corporation or cooperative that purchases grain from a producer in the first instance or a public or private lienholder, secured party or pledgee, or assignee of the lienholder, secured party or pledgee, who gains title to the grain from the grower as a result of exercising any legal rights by the lienholder, secured party, pledgee or assignee regardless of when the lien, security interest or pledge was created. First buyer also includes a public or private person who acquires a lien or security interest or receives a pledge of the grain after the grain is harvested.
3. "Grain" means the seed of barley and wheat of all classes produced for use as food, feed or seed or produced for any industrial or commercial use.
4. "Marketing year" means a one year period from February 1 through January 31 of the following calendar year.
5. "Producer" means a person, partnership, corporation or cooperative in this state that produces and sells grain in commercial channels. In the case of a partnership, each partner who regularly receives a portion of the gross receipts directly from the buyer is considered a producer.