(1) In addition to the penalties prescribed in ORS 576.991, any person who delays transmittal of funds beyond the time set by a commodity commission shall pay a penalty of 10 percent of the amount due and shall also pay one and one-half percent interest per month on the unpaid balance of the assessment.
(2) A commission may waive the penalty and interest described in subsection (1) of this section upon a showing of good cause.
(3) Notwithstanding subsection (1) of this section, if an assessment is collected pursuant to a federal marketing order or agreement, a commission may establish a penalty or interest rate that is consistent with that order or agreement. [1953 c.489 §28; 2003 c.604 §42]Section: Previous 576.320 576.325 576.327 576.335 576.345 576.350 576.351 576.355 576.365 576.370 576.372 576.375 576.380 576.385 576.390 Next
Last modified: August 7, 2008