§ 256 - Marketing rule fund - Vermont Statutes

§ 256. Marketing rule fund

(a) A special administrative fund, to be known as the marketing rule fund, is created for the purpose of holding monies collected by the secretary under this chapter. The fund shall be organized and managed in accordance with subchapter 5 of chapter 7 of Title 32 (special funds). Notwithstanding subdivision 588(3) of Title 32, interest earned by the fund shall be credited to and retained by the fund and annually carried forward as part of the fund balance.

(b) Any monies remaining in the fund at the close of a marketing season may, at the discretion of the applicable board, be refunded on a pro rata basis to all producers from whom the money was collected.

(c) Upon the termination of any marketing rule, the secretary shall refund on a pro rata basis to all applicable producers any monies remaining and not required to defray the cost of operating the marketing rule, except when the cost of administering the refund would exceed the monies available. (Added 1993, No. 73, § 1, eff. June 10, 1993; amended 2003, No. 42, § 2, eff. May 27, 2003.)