43-29-109 - Withholding and transfer of funds Report. - Tennessee Statutes

43-29-109. Withholding and transfer of funds Report.

The assessed rate as approved by referendum shall be deducted by the purchaser from the amount paid to the producer at the first point of sale. Within ten (10) days after the end of each calendar month, each purchaser shall submit to the department the total amount of funds withheld from producers. On or before the twentieth day of January, April, July and October of each year, the commissioner shall pay to the promotion board for that particular commodity all proceeds collected, less refunds and less an amount not to exceed five percent (5%) of the gross amount collected, or a sum sufficient to cover all of the department's expenses of collection, whichever is less, together with a report of all funds collected and disbursed.

[Acts 1985, ch. 188, § 9.]