Section 825 IAC 1-4-1 - Collection of premiumsAuthority: IC 26-4-7-1
Affected: IC 26-4
Sec. 1.
(a) Beginning July 1, 1996, as proscribed in IC 26-4, and continuing until such time as the corporation gives notice of termination, each grain buyer who purchases grain shall withhold from the payment to the producer the producer premium.(b) After the fund is capped and initial collection of producer premiums cease, any future collections shall commence on July 1 of the year in which the board determines that the fund is, or could be, below five million dollars ($5,000,000) and continue until June 30 of the year in which the board determines that the fund is at or above ten million dollars ($10,000,000).Indiana Grain Indemnity Corporation; 825 IAC 1-4-1; filed Sep 25, 1996, 10:00 a.m.: 20 IR 323; readopted filed Dec 2, 2002, 2:52 p.m.: 26 IR 1262; readopted filed Sep 29, 2009, 9:52 a.m.: 20091021-IR-825090504RFA