Code of Maine Rules
01 - DEPARTMENT OF AGRICULTURE, CONSERVATION AND FORESTRY
001 - AGRICULTURE - GENERAL
Chapter 60 - MAINE MILK POOL - OPERATION
Section 001-60-VI - Interest on Late Payments

In addition to all other penalties imposed by law, if a dealer or an agricultural cooperative fails to pay a producer by the time specified in 3 sections, V and V-A, the dealer or cooperative shall be liable to the producer for interest on the amount due the producer out of the Pool at a rate of 15% per year beginning from the date on which the payment was due. The interest, when paid in full, shall be considered an administrative settlement in lieu of prosecution under 7 M.R.S.A. Sec.3155. Where a dealer or cooperative has delayed or failed to pay a producer, the Pool Administrator may, at the producer's request, pay directly to the producer future amounts due from the Pool. The Pool Administrator may, in the case of a Maine market dealer or a cooperative engaged in transactions on the Maine market, request the Maine Milk Commission to treat such conduct as a practice destructive of the minimum price for milk established by the Commission.

NOTE: Under 7 M.R.S.A. Sec2964(7) practices destructive of minimum milk prices set by the Maine Milk Commission constitute grounds for suspension, revocation or withholding of the dealer license required by 7 M.R.S.A. Sec.2955.