126.48 Milk contractors; payments to producers.
(1) First monthly payment. Except as provided under the terms of a deferred payment contract that satisfies the requirements under s. 126.485, by the 4th day of each month, a milk contractor shall pay for producer milk received during the first 15 days of the preceding month. The milk contractor shall base the payment 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.
(2) Second monthly payment. Except as provided under the terms of a deferred payment contract that satisfies the requirements under s. 126.485, by the 19th day of each month, a milk contractor shall pay the balance due for producer milk received during the preceding month.
History: 2001 a. 16; 2017 a. 155.
Structure Wisconsin Statutes & Annotations
Wisconsin Statutes & Annotations
Chapter 126 - Agricultural producer security.
126.05 - Agricultural producer security fund.
126.06 - Contingent financial backing.
126.11 - Grain dealers; licensing.
126.12 - Grain dealers; insurance.
126.13 - Grain dealers; financial statements.
126.14 - Contributing grain dealers; disqualification.
126.15 - Contributing grain dealers; fund assessments.
126.16 - Grain dealers; security.
126.17 - Grain dealers; records.
126.18 - Grain dealers; receipts for grain.
126.19 - Grain dealers; deferred payment contracts.
126.20 - Grain dealers; business practices.
126.21 - Grain producer obligations.
126.26 - Grain warehouse keepers; licensing.
126.27 - Grain warehouse keepers; insurance.
126.28 - Grain warehouse keepers; financial statements.
126.29 - Contributing grain warehouse keepers; disqualification.
126.30 - Grain warehouse keepers; fund assessments.
126.31 - Grain warehouse keepers; security.
126.32 - Grain warehouse keepers; records.
126.34 - Grain warehouse keepers; business practices.
126.41 - Milk contractors; licensing.
126.42 - Milk contractors; monthly license fee.
126.43 - Milk contractors; insurance.
126.44 - Milk contractors; financial statements.
126.45 - Contributing milk contractors; disqualification.
126.46 - Contributing milk contractors; fund assessments.
126.47 - Milk contractors; security.
126.48 - Milk contractors; payments to producers.
126.485 - Milk contractors; deferred payment contracts.
126.487 - Payment explanation.
126.49 - Milk contractors; records and reports.
126.50 - Milk contractors; prohibited practices.
126.51 - Rules for qualified producer agents.
126.56 - Vegetable contractors; licensing.
126.57 - Vegetable contractors; insurance.
126.58 - Vegetable contractors; financial statements.
126.59 - Contributing vegetable contractors; disqualification.
126.595 - Processing potato buyer optional nonparticipation.
126.60 - Contributing vegetable contractors; fund assessments.
126.61 - Vegetable contractors; security.
126.62 - Vegetable contractors; records.
126.63 - Vegetable contractors; business practices.
126.64 - Vegetable contractors; prohibited practices.
126.70 - Recovery proceedings.
126.71 - Paying default claims.
126.72 - Claims against contributing contractor; payment sources.
126.73 - Reimbursing payments.
126.80 - Department authority; general.
126.84 - Records; confidentiality.