Section 126.48. Milk contractors; payments to producers.

 

(1)   First monthly payment. By the 4th day of each month, a milk contractor shall pay for producer milk received during the first 15 days of the preceding month. The milk contractor shall base the payment on an estimated price that is at least 80 percent of the class III price published by the regional federal milk market administrator for the month preceding the month in which the milk is received, or 80 percent of the contract price, whichever is greater.

(2)   Second monthly payment. By the 19th day of each month, a milk contractor shall pay the balance due for producer milk received during the preceding month.

(3)   Payment explanation. The department may, by rule, require a milk contractor to provide a milk producer or producer agent with a written explanation of each payment under this section. The department may specify the content of the explanation, including information related to any of the following:

(a) Milk contractor identification.

(b) Milk producer or producer agent identification.

(c) Pay period.

(d) Volume of milk received.

(e) Grade of milk.

(f) Milk test results.

(g) Milk price and adjustments.

(h) Gross amount due.

(i) Average gross pay per hundredweight less hauling charges.

(j) Net amount due.

(k) Deductions and assignments.

2001 a. 16 .