Amounts paid from the seed indemnity fund in satisfaction of any approved claims shall constitute a debt and obligation of the seed buyer against whom the claim was made and its surety. The director may bring suit on behalf of the seed indemnity fund and in the name of any claimant paid from the fund in district court of Ada county to recover from the seed buyer and its surety the amount of the payment made from the seed indemnity fund, together with costs and attorney’s fees incurred in maintaining the suit. In the event the department initiates an action against a seed buyer or surety, the department’s claim is deemed to accrue and relate back to the time that each producer who received a seed indemnity fund payment incurred a loss with the seed buyer. Any recovery for reimbursement of the fund shall bear interest at the statutory rate from the date of failure.
Terms Used In Idaho Code 22-5128
Idaho Code 22-5102
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. 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