Minimum markup of butter, milk and fresh dairy by-products by retailers; reduction of price.

1. A retailer may apply to butter a minimum markup of 6 percent of the purchase price and may apply to milk and fresh dairy by-products a minimum markup of 10 percent of the purchase price. Retailers shall file statements of costs for butter and fresh dairy by-products in accordance with NRS 584.583 , unless they are using a markup equal to or greater than the minimum markup permitted by this subsection. 2. A retailer may reduce its price to the extent necessary to meet a lawful competitive price and is not subject to penalty if it submits information to the Director in the manner set forth for distributors in NRS 584.584 . 3. As used in this section, “purchase price” includes the cost of the product and the cost to transport the product to the retailer.