(1) deduct the producer premium described in section 4 of this chapter from the producer’s payment; and

(2) document the producer premium paid by the producer.

     (b) A grain buyer shall submit producer premiums collected under subsection (a) to the board for the purpose of financing or contributing to the financing of the fund by:

(1) October 31 for producer premiums collected during the months of July, August, and September;

(2) January 31 for producer premiums collected during the months of October, November, and December;

(3) April 30 for producer premiums collected during the months of January, February, and March; and

(4) July 31 for producer premiums collected during the months of April, May, and June.

As added by P.L.250-1995, SEC.1.