Milk contractors; financial statements

126.44 (8) (c) 1. (3) “Dairy farm” has the meaning given in s. 97.22 (1) (a). (4) “Dairy plant” has the meaning given in s. 97.20 (1) (a). (5) “Dairy plant operator” means a person who holds or is required to hold a dairy plant license under s. 97.20. (6) “Debt to equity ratio” means the ratio of the value of liabilities to equity, calculated according to s. 126.44 (8) (c) 2. (6m) “Deferred payment contract” means a contract for the procurement of producer milk under which all of the following apply to a milk contractor’s payment: (a) For producer milk received during the first 15 days of the preceding month, the milk contractor’s payment is due after the 4th day of the month, based on an estimated price that is at least 80 percent of the class III price published by the regional federal milk market administrator for the month preceding the month in which the milk is received, or 80 percent of the contract price, whichever is greater. (b) For producer milk received during the preceding month, the balance of the milk contractor’s payment is due after the 19th day of the month. (7) “Disqualified milk contractor” means a milk contractor who is disqualified from the fund under s. 126.45 (3). (7e) “Estimated default exposure” means the sum of the following: (a) Seventy-five percent of the following: 1. If the milk contractor reports unpaid milk payroll obligations under ss. 126.41 (6) (b) 1. and 126.47 (5m) (b) 1., the highest amount of unpaid milk payroll obligations, reported under s.