Current through L. 2024, c. 185.
Section 702 - Marketing contracts(a) If a marketing contract provides for the sale of products, commodities, or goods to a mutual benefit enterprise, the sale transfers title to the enterprise upon delivery or at any other specific time expressly provided by the contract.(b) A marketing contract may: (1) authorize a mutual benefit enterprise to create an enforceable security interest in the products, commodities, or goods delivered; and(2) allow the enterprise to sell the products, commodities, or goods delivered and pay the sales price on a pooled or other basis after deducting selling costs, processing costs, overhead, expenses, and other charges.(c) Some or all of the provisions of a marketing contract between a patron member and a mutual benefit enterprise may be contained in the organic rules.Added 2011, No. 84 (Adj. Sess.), § 1, eff. 4/20/2012.