Agriculture: marketing; length of time a cooperative may hold the funds of its members; limit. Amends sec. 4 of 1972 PA 344 (MCL 290.704).

Summary

The bill adds a rule that a marketing association may not hold its members’ funds for more than ten years after receiving them. Associations that were already violating the rule when it becomes law have two years to return any excess money. The change is meant to protect producers by ensuring they get timely access to their earnings.

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