(a) As used in this chapter, the following terms shall have the meaning ascribed in this section, unless the context clearly requires otherwise:(a) “Assessment” means the assessment established pursuant to 75-46-9.(b) “Board” means the Mississippi Grain Indemnity Trust Fund Board.(c) “Claimant” means a producer who:(i) Has suffered either a contract loss or storage loss as defined herein;(ii) Has filed a claim pursuant to this chapter and any rules issued by the board under this chapter;(iii) Has paid assessments into the Mississippi Grain Indemnity Trust Fund, including payments made pursuant to 75-46-17(5) or is a new producer; and(iv) Has not opted out of paying the assessments pursuant to 75-46-17.(d) “Commissioner” means the Commissioner of Agriculture and Commerce for the State of Mississippi or his or her designee.(e) “Contract loss” means a loss to a claimant when a first purchaser licensee who has failed has not fully paid the claimant for grain sold to the licensee under any type of sales contract.(f) “Deferred purchase” means a purchase by a first purchaser licensee in which title to grain passes to the first purchaser licensee and by voluntary agreement of the producer full payment to producer is not made for said grain within one (1) calendar year of the date that title to the grain passes to the first purchaser licensee.(g) “Department” means the Mississippi Department of Agriculture and Commerce.(h) “Failed” or “failure,” subject to Section 75-46-19, means:(i) Nonpayment of a first purchaser licensee’s debts to a producer or inability of a first purchaser licensee to satisfy all financial obligations due to a producer, unless there is a good faith dispute regarding the legitimacy of the debt;(ii) A declaration of insolvency of a first purchaser licensee by the licensee or by the commissioner;(iii) Revocation or suspension of the first purchaser licensee’s license by the State of Mississippi or the United States Department of Agriculture, if the licensee has outstanding indebtedness owed to producers or claimants;(iv) Voluntary surrender of a first purchaser licensee’s license to the State of Mississippi or the United States Department of Agriculture, if the licensee has outstanding indebtedness owed to producers or claimants; or(v) The filing of an involuntary or voluntary petition for bankruptcy with regard to a first purchaser licensee.(i) “First purchaser licensee” means a person who is the first to purchase grain or is paid to store grain produced in Mississippi from producers and is:(i) Licensed by the State of Mississippi to store grain under Chapter 44, Title 75, Mississippi Code of 1972;(ii) Licensed by the State of Mississippi to act as a grain dealer under Chapter 45, Title 75, Mississippi Code of 1972; or(iii) Licensed by the United States under the United States Warehouse Act to store grain and has entered into a cooperative agreement with the department.(j) “Fund” means the Mississippi Grain Indemnity Trust Fund.(k) “Grain” means whole kernel corn for all purposes, soybeans and wheat grown in the State of Mississippi. Grain does not include sweet corn, popcorn or any other corn for human consumption.(l) “Mississippi Grain Indemnity Trust Fund” or “Grain Indemnity Fund” means the fund established as provided in this chapter.(m) “Mississippi Grain Indemnity Trust Fund Board” means the board established under Section 75-46-5.(n) “New producer” means a producer who produced grain only after the payment and collection of the assessment was suspended pursuant to Section 75-46-13. The term “new producer” does not include a producer who opted out of payment of the assessment pursuant to Section 75-46-17.(o) “Person” means a natural person, trust, partnership, corporation or any other business entity.(p) “Producer” or “producers” means the owner(s), tenant(s) or operator(s) of land in this state who possess an interest in and receives all or any part of the proceeds from the sale of the grain produced thereon.(q) “Storage loss” means a loss to a producer or claimant when a first purchaser licensee who has failed has not fully satisfied the licensee’s storage obligations for grain to the producer or claimant, less any allowable charges that have not been paid by the producer or claimant.
(a) “Assessment” means the assessment established pursuant to 75-46-9.
(b) “Board” means the Mississippi Grain Indemnity Trust Fund Board.
(c) “Claimant” means a producer who:(i) Has suffered either a contract loss or storage loss as defined herein;(ii) Has filed a claim pursuant to this chapter and any rules issued by the board under this chapter;(iii) Has paid assessments into the Mississippi Grain Indemnity Trust Fund, including payments made pursuant to 75-46-17(5) or is a new producer; and(iv) Has not opted out of paying the assessments pursuant to 75-46-17.
(i) Has suffered either a contract loss or storage loss as defined herein;
(ii) Has filed a claim pursuant to this chapter and any rules issued by the board under this chapter;
(iii) Has paid assessments into the Mississippi Grain Indemnity Trust Fund, including payments made pursuant to 75-46-17(5) or is a new producer; and
(iv) Has not opted out of paying the assessments pursuant to 75-46-17.
(d) “Commissioner” means the Commissioner of Agriculture and Commerce for the State of Mississippi or his or her designee.
(e) “Contract loss” means a loss to a claimant when a first purchaser licensee who has failed has not fully paid the claimant for grain sold to the licensee under any type of sales contract.
(f) “Deferred purchase” means a purchase by a first purchaser licensee in which title to grain passes to the first purchaser licensee and by voluntary agreement of the producer full payment to producer is not made for said grain within one (1) calendar year of the date that title to the grain passes to the first purchaser licensee.
(g) “Department” means the Mississippi Department of Agriculture and Commerce.
(h) “Failed” or “failure,” subject to Section 75-46-19, means:(i) Nonpayment of a first purchaser licensee’s debts to a producer or inability of a first purchaser licensee to satisfy all financial obligations due to a producer, unless there is a good faith dispute regarding the legitimacy of the debt;(ii) A declaration of insolvency of a first purchaser licensee by the licensee or by the commissioner;(iii) Revocation or suspension of the first purchaser licensee’s license by the State of Mississippi or the United States Department of Agriculture, if the licensee has outstanding indebtedness owed to producers or claimants;(iv) Voluntary surrender of a first purchaser licensee’s license to the State of Mississippi or the United States Department of Agriculture, if the licensee has outstanding indebtedness owed to producers or claimants; or(v) The filing of an involuntary or voluntary petition for bankruptcy with regard to a first purchaser licensee.
(i) Nonpayment of a first purchaser licensee’s debts to a producer or inability of a first purchaser licensee to satisfy all financial obligations due to a producer, unless there is a good faith dispute regarding the legitimacy of the debt;
(ii) A declaration of insolvency of a first purchaser licensee by the licensee or by the commissioner;
(iii) Revocation or suspension of the first purchaser licensee’s license by the State of Mississippi or the United States Department of Agriculture, if the licensee has outstanding indebtedness owed to producers or claimants;
(iv) Voluntary surrender of a first purchaser licensee’s license to the State of Mississippi or the United States Department of Agriculture, if the licensee has outstanding indebtedness owed to producers or claimants; or
(v) The filing of an involuntary or voluntary petition for bankruptcy with regard to a first purchaser licensee.
(i) “First purchaser licensee” means a person who is the first to purchase grain or is paid to store grain produced in Mississippi from producers and is:(i) Licensed by the State of Mississippi to store grain under Chapter 44, Title 75, Mississippi Code of 1972;(ii) Licensed by the State of Mississippi to act as a grain dealer under Chapter 45, Title 75, Mississippi Code of 1972; or(iii) Licensed by the United States under the United States Warehouse Act to store grain and has entered into a cooperative agreement with the department.
(i) Licensed by the State of Mississippi to store grain under Chapter 44, Title 75, Mississippi Code of 1972;
(ii) Licensed by the State of Mississippi to act as a grain dealer under Chapter 45, Title 75, Mississippi Code of 1972; or
(iii) Licensed by the United States under the United States Warehouse Act to store grain and has entered into a cooperative agreement with the department.
(j) “Fund” means the Mississippi Grain Indemnity Trust Fund.
(k) “Grain” means whole kernel corn for all purposes, soybeans and wheat grown in the State of Mississippi. Grain does not include sweet corn, popcorn or any other corn for human consumption.
(l) “Mississippi Grain Indemnity Trust Fund” or “Grain Indemnity Fund” means the fund established as provided in this chapter.
(m) “Mississippi Grain Indemnity Trust Fund Board” means the board established under Section 75-46-5.
(n) “New producer” means a producer who produced grain only after the payment and collection of the assessment was suspended pursuant to Section 75-46-13. The term “new producer” does not include a producer who opted out of payment of the assessment pursuant to Section 75-46-17.
(o) “Person” means a natural person, trust, partnership, corporation or any other business entity.
(p) “Producer” or “producers” means the owner(s), tenant(s) or operator(s) of land in this state who possess an interest in and receives all or any part of the proceeds from the sale of the grain produced thereon.
(q) “Storage loss” means a loss to a producer or claimant when a first purchaser licensee who has failed has not fully satisfied the licensee’s storage obligations for grain to the producer or claimant, less any allowable charges that have not been paid by the producer or claimant.