3-428. Approval of a marketing agreement; amendments; term
A. A marketing agreement applies only to producers and shippers who sign the marketing agreement and is effective on the approval of the director. Additional signatories may be added with the approval of the director. If signatories withdraw, the director may review and terminate the marketing agreement if not enough signatories remain to defray expenses of the marketing agreement.
B. A marketing agreement may be amended at any time with the approval of the director and all of the signatories. If a signatory fails to vote on a proposed amendment within thirty days after notice of the proposed amendment, the signatory is deemed to have approved the amendment.
C. A marketing agreement is binding on signatories for a period specified in the marketing agreement, but not longer than twelve months. The marketing agreement may be renewed for an additional three terms without the requirement of a public meeting provided in section 3-425.
D. If a marketing agreement remains effective for a fourth term, the department must hold a public meeting pursuant to section 3-425 during that term. The proposed marketing agreement may amend the current agreement. If the marketing agreement is reapproved, the new term begins on the expiration of the existing term.
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