N.Y. Comp. Codes R. & Regs. tit. 1 § 20.73

Current through Register Vol. 46, No. 50, December 11, 2024

Section 20.73 - Payments out of the producer settlement fund

(a) On or before the 17th day of each month, the market administrator shall make payment to each handler of the credit balance, if any, of such handler shown on the last statement of account rendered pursuant to section 20.71 of this Part. If the date by which such payments are to be made falls on a Saturday or Sunday or a national holiday, such payments need not be made until the next day that the market administrator's office is open for public business. If payments to the producer settlement fund under section 20.72 of this Part were delayed because the due date fell on a Saturday or Sunday or a national holiday, payments under this paragraph may be delayed by the same number of days.

(b) If the balance in the producer settlement fund is insufficient to make the full payment required under subdivision (a) of this section, the market administrator shall reduce uniformly the payments to each handler and shall complete such payments as soon as the necessary funds are available. No handler who, on the 20th day of the month, has not received such payments in full from the market administrator shall be deemed to be in violation of sections 20.80 through 20.82 of this Part if he reduces his total payments to producers for milk delivered by such producers during the preceding month by not more than the amount of the reduction in payment from the producer settlement fund.

N.Y. Comp. Codes R. & Regs. Tit. 1 § 20.73