§ 3.1-722.16. (Repealed effective October 1, 2008) Definitions
The following definitions shall apply in the interpretation and enforcement of this article:
(a) "Person" means an individual, partnership, corporation, association, or syndicate.
(b) "Grain dealer" means any person who buys, solicits for sale or resale, processes for sale or resale, contracts for storage or exchange, or transfers grain of a Virginia producer. The term "grain dealer" shall exclude farmers or groups of farmers buying grain for consumption on their farms.
(c) "Producer" means any person in Virginia who produces grain.
(d) "Grain" for the purposes of this article shall be construed to include, but not by way of limitation, corn (maize), wheat, rye, oats, barley, flaxseed, soybeans and sunflower.
(e) "Commissioner" means the Commissioner of Agriculture and Consumer Services.
(f) "Cash buyer" means any person who pays the producer, or his representative, at the time of obtaining title, possession or control of grain, the full agreed price of such grain in coin or currency, lawful money of the United States, certified checks, cashier's checks or drafts issued by a bank.
(g) "Storage," also known as "holding," means any method by which grain owned by another is held for such party by one not the direct owner thereof, except for transportation thereof.
(h) "Grain bank" means grain owned by a producer and held temporarily by the dealer for use in the formulation of feed to be returned to the producer on demand as feed or whole grain.
(i) "Grain exchange" means grain owned by a producer and held temporarily by the dealer for use in the formulation of processed flour to be returned to the producer on demand as flour or whole grain.
(j) "Full market value" means the value recognized as the average weekly price per bushel for the Commonwealth as quoted by the Virginia Department of Agriculture and Consumer Services.
(k) "Loss" means any monetary loss to a producer as a result of doing business with a dealer which shall include, but not be limited to, bankruptcy, embezzlement, theft or fraud.
(l) "Price later" means that the actual purchase price is not fixed at the time of delivery, but allows the producer to choose a bid price on any business day during a stated time period as agreed between the parties.
(m) "Deferred payment" means that the purchase price for grain delivered by the producer is fixed and specified in the contract, but payment is not received by the producer until a mutually agreed upon subsequent date.
(n) "Contract" means a binding agreement between the grain dealer and the producer to evidence the terms and conditions of delivery of grain and purchase price.
(1972, c. 296; 1982, c. 187.)Sections: Previous 3.1-722.9 3.1-722.10 3.1-722.11 3.1-722.12 3.1-722.13 3.1-722.14 3.1-722.15 3.1-722.16 3.1-722.17 3.1-722.18 3.1-722.19 3.1-722.20 3.1-722.20:1 3.1-722.21 3.1-722.22 Next
Last modified: April 2, 2009