(1) A seed buyer shall pay the producer the purchase price for seed crops in legal tender within ninety (90) days of sale unless otherwise agreed to in writing.
(2) Any seed buyer that violates the provisions of section 18-3106, Idaho Code, in making payment to the producer for any seed crop without sufficient funds in, or credit with, such bank or other depository, also violates the provisions of this chapter. The word "credit" as used herein shall mean an arrangement or understanding with the bank or depository for such payment.
Terms Used In Idaho Code 22-5118
- Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
- Producer: means the owner, tenant or operator of land in this state who has an interest in the proceeds from the sale of seed crops grown on that same land. See Idaho Code 22-5102
- Seed buyer: means any person having a commercial operation, its agents and employees, together with its elevators, mills, buildings, or other structures who owes or has any financial obligation to the producer for seed crop grown by that producer and transferred to the seed buyer. See Idaho Code 22-5102
- Seed crops: means any seed crop regulated by chapter 4, title 22, Idaho Code. See Idaho Code 22-5102