Definition of terms

Terms used in this chapter mean: (1) "Due date," seven days from the date of delivery of produce by the seller to the dealer at wholesale in the case of a sale, and in all cases where produce is consigned, seven days from the date the sale is made by the broker or handler to the dealer at wholesale; (2) "Person," an individual, firm, corporation, limited liability company, copartnership, or association; (3) "Produce," includes eggs, poultry, poultry products, or dairy products; (4) "Voluntary extension of credit," a written agreement between the seller and the dealer at wholesale wherein the time of payment for the purchase price of produce is extended beyond the due date. Source: SL 1955, ch 5, § 1; SDC Supp 1960, § 4.2401; SL 1963, ch 9, § 1; SL 1994, ch 351, § 99.