Terms Used In Michigan Laws 290.464

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Financial institution: means a commercial bank whose deposits are insured by the federal deposit insurance corporation or a national bank for cooperatives subject to the farm credit act of 1971, Public Law 92-181, 85 Stat. See Michigan Laws 290.451
  • Grower: means a person engaged in the business of growing and producing potatoes. See Michigan Laws 290.451
  • Person: means a corporation, company, association, cooperative organization, partnership, individual, or other legal entity. See Michigan Laws 290.451
  • Wholesale potato dealer: means a person who buys potatoes in wholesale lots directly from a grower or grower cooperative or who sells or handles those potatoes in wholesale lots for the purpose of processing or resale to other wholesale potato dealers, retailers, restaurants, hotels, institutions, or hospitals. See Michigan Laws 290.451
   A person shall not request a grower to sign any statement, affidavit, assignment, or waiver of any kind which operates to relieve a wholesale potato dealer, financial institution issuing a letter of credit, or surety company of its full responsibility under this act.