Oregon Statutes 578.255 – Penalty for delaying transmittal of assessment moneys
Current as of: 2023 | Check for updates
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(1) In addition to the penalty established in ORS § 578.990, any person who delays transmittal of assessment moneys beyond the time set by the Oregon Wheat Commission shall pay a civil penalty to the commission of 10 percent of the amount due and shall also pay one and one-half percent interest per month on the unpaid balance of the assessment.
Terms Used In Oregon Statutes 578.255
- Commission: means the Oregon Wheat Commission. See Oregon Statutes 578.010
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) The commission may waive the penalty and interest described in subsection (1) of this section upon a showing of good cause.
(3) Notwithstanding subsection (1) of this section, if an assessment is collected pursuant to a federal marketing order or agreement, the commission may establish a penalty or interest rate that is consistent with that order or agreement. [2013 c.93 § 3]