Sec. 20.
The joint settlement committee shall base its decision upon the following factors:
(a) Prices or projected prices for the agricultural commodity paid by competing handlers in the market area or competing market areas.
(b) Amount of the commodity produced or projections of production in the production area or competing marketing areas.
(c) Relationship between the quantity produced and the quantity handled by the handler.
(d) The producer's cost of production including the cost which would be involved in paying farm labor a fair wage rate.
(e) The average consumer prices for goods and services, commonly known as the cost of living.
(f) The impact of the award on the competitive position of the handler in the marketing area or competing areas.
(g) The impact of the award on the competitive position of the agricultural commodity in relationship to competing commodities.
(h) A fair return on investment.
(i) Kind, quality, or grade of the commodity involved.
(j) Stipulation of the parties.
(k) Such other factors which are normally or traditionally taken into consideration in determining prices, quality, quantity, and the costs of other services involved.
History: 1972, Act 344, Eff. Mar. 30, 1973 ;-- Am. 2012, Act 119, Imd. Eff. May 2, 2012
Last modified: October 10, 2016