Kentucky Statutes 247.515 – Definitions
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As used in KRS § 247.510 to KRS § 247.595 unless the context otherwise requires: (1) “Commissioner” means the Commissioner of Agriculture;
(2) “Board” means the State Board of Agriculture;
(3) “Producer” means every person who produces soybeans and thereafter causes the same to be marketed;
(4) “New producer” means a producer who was not engaged in the business of producing soybeans at the time a referendum was conducted in accordance with the provisions of KRS § 247.510 to KRS § 247.595;
(5) “Person” means any individual, corporation, partnership, association, cooperative, or other business entity;
(6) “Marketing year” means from July 1 to June 30 of the following year;
(7) “Purchaser” means any person, public or private corporation, federal commodity credit corporation, association, or partnership buying, accepting for shipment, or otherwise acquiring the property in or to soybeans from a producer, and shall include a mortgagee, pledgee, lienor, or other person, public or private, having a claim against the producer, when the actual or constructive possession of such soybeans is taken as part payment or in satisfaction of such mortgage, pledge, lien, or claim;
(8) “Net market price” means the sales price or other value received by a producer for soybeans after adjustments have been made for any premium or discount based on grading or quality factors; and
(9) “Promotion board” means the Kentucky Soybean Promotion Board.
Effective: July 14, 1992
History: Amended 1992 Ky. Acts ch. 45, sec. 1, effective July 14, 1992. — Amended
1986 Ky. Acts ch. 180, sec. 1, effective July 15, 1986. — Created 1974 Ky. Acts ch.
83, sec. 2.
(2) “Board” means the State Board of Agriculture;
Terms Used In Kentucky Statutes 247.515
- Board: means the State Board of Agriculture. See Kentucky Statutes 247.010
- Commissioner: means Commissioner of Agriculture. See Kentucky Statutes 247.010
- 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.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- 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.
- Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Year: means calendar year. See Kentucky Statutes 446.010
(3) “Producer” means every person who produces soybeans and thereafter causes the same to be marketed;
(4) “New producer” means a producer who was not engaged in the business of producing soybeans at the time a referendum was conducted in accordance with the provisions of KRS § 247.510 to KRS § 247.595;
(5) “Person” means any individual, corporation, partnership, association, cooperative, or other business entity;
(6) “Marketing year” means from July 1 to June 30 of the following year;
(7) “Purchaser” means any person, public or private corporation, federal commodity credit corporation, association, or partnership buying, accepting for shipment, or otherwise acquiring the property in or to soybeans from a producer, and shall include a mortgagee, pledgee, lienor, or other person, public or private, having a claim against the producer, when the actual or constructive possession of such soybeans is taken as part payment or in satisfaction of such mortgage, pledge, lien, or claim;
(8) “Net market price” means the sales price or other value received by a producer for soybeans after adjustments have been made for any premium or discount based on grading or quality factors; and
(9) “Promotion board” means the Kentucky Soybean Promotion Board.
Effective: July 14, 1992
History: Amended 1992 Ky. Acts ch. 45, sec. 1, effective July 14, 1992. — Amended
1986 Ky. Acts ch. 180, sec. 1, effective July 15, 1986. — Created 1974 Ky. Acts ch.
83, sec. 2.