Oregon Statutes 576.705 – Processors required to pay for commodities within 30 days after delivery; interest on late payments
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Notwithstanding any other provision of law:
Terms Used In Oregon Statutes 576.705
- Contract: A legal written agreement that becomes binding when signed.
(1) In the absence of a contract providing otherwise, any processor who purchases a commodity from a producer shall make full payment therefor not later than the 30th day after the day the processor takes delivery of the harvested commodity.
(2) Any processor who fails to make payment as required by subsection (1) of this section shall pay, in addition to the amount due, interest thereon at the rate of one percent per month. [1971 c.531 § 2]