La. Admin. Code tit. 7 § XXVII-193

Current through Register Vol. 50, No. 11, November 20, 2024

Section XXVII-193 - Definitions

A. The following words and terms are defined for purposes of this Subchapter and supplement the words and terms defined in §101 of this Part.

Claimant-a producer, as defined in §101 of this Part.

Fund-the Grain and Cotton Indemnity Fund.

Insolvency-the inability of a licensee to meet debts or discharge liabilities.

Licensee-for purposes of this Subchapter only, a Licensee is a cotton merchant as defined in R.S. 3:3402(6) or a grain dealer as defined in R.S. 3:3402(10).

Value of Commodity-the quoted price plus or minus premiums or discounts such as moisture and quality factors.

La. Admin. Code tit. 7, § XXVII-193

Promulgated by the Department of Agriculture and Forestry, Office of Agro-Consumer Services, Agricultural Commodities Commission, LR 35:629 (April 2009), amended by the Department of Agriculture and Forestry, Agricultural Commodities Commission, LR 37:510 (February 2011).

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:3410.2.