Tennessee Code 43-20-208 – Deductions
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Terms Used In Tennessee Code 43-20-208
- Board: means the Tennessee soybean promotion board established by §. See Tennessee Code 43-20-203
- Month: means a calendar month. See Tennessee Code 1-3-105
- Producer: means a person who produces soybeans as an ongoing commercial operation and includes any landowner who shares in the production costs or the proceeds of the sale of any soybeans that are grown on the landowner's land. See Tennessee Code 43-20-203
- Purchaser: means any person, public or private corporation, federal commodity credit corporation, association or partnership, buying, accepting shipment or otherwise accepting the property, in or to soybeans from a producer, and includes a mortgagee, pledgee, lienor, or other person, public or private, having a claim against the producer when the actual or constructive possession of the soybeans is taken as part payment or in satisfaction of the mortgage, pledge, lien, or claim. See Tennessee Code 43-20-203
The assessed rate, as approved by referendum, shall be deducted by the purchaser from the amount paid the producer at the first point of sale. Within twenty (20) days after the end of each calendar month, each purchaser shall remit to the board the total amount of funds withheld from producers.