§ 2882 - Exemptions from Filing Bond
§ 2882. Exemptions from Filing Bond
(a) A milk cooperative or a nonprofit cooperative association organized under Vermont law or similar laws in other states shall not be required to furnish surety as provided in section 2881 of this title for payments made to a milk cooperative or to a producer who is a member of a milk cooperative.
(b) A handler who does not purchase milk from Vermont producers or milk cooperatives shall not be required to furnish surety as provided under section 2881 of this title.
(c) A handler who pays a milk cooperative for milk in advance or at the time of delivery shall not be required to furnish surety as provided under section 2881 of this title. Every milk cooperative selling milk to handlers who pay for milk in advance or at the time of delivery shall, on January 1 and July 1 of each year, notify the secretary in writing of the identity of each handler and shall promptly notify the secretary, in writing, of any changes to the most recent notification.
(d) A handler who purchases fewer than 150,000 pounds of milk per month from a milk cooperative shall not be required to furnish surety as provided under section 2881 of this title. (Added 1965, No. 175, § 25; amended 2009, No. 48, § 6, eff. May 28, 2009.)