§ 151.13. Definitions.
The following words and terms, when used in this chapter, have the following meanings, unless the context clearly indicates otherwise:
In good standing—For the purposes of section 2(b) of the Milk Producers’ and Cooperative Security Funds Act (31 P. S. § 625.2(b)) (Repealed), a milk dealer or handler shall be considered to be in good standing so long as a payment due for milk purchased is received in the office of the Milk Marketing Board by the 25th day of the month succeeding the month in which the milk covered by the payment is purchased.
Trust company—For the purposes of the Milk Producers and Cooperative Security Funds Act, a bank and trust company as defined in section 102(g) of the Banking Code of 1965 (7 P. S. § 102(g)) or a national bank which has been granted trust or fiduciary powers and authority under 12 U.S.C. § § 21—221.
Source The provisions of this § 151.13 adopted March 27, 1981, effective March 28, 1981, 11 Pa.B. 1088.
No part of the information on this site may be reproduced for profit or sold for profit.
This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.
