New York Codes, Rules and Regulations
Title 1 - DEPARTMENT OF AGRICULTURE AND MARKETS
Chapter I - Milk Control
Subchapter B - Milk Control Orders
Part 43 - Implementation Of Milk Producers Security Law
Section 43.7 - Exemption from mandatory minimum surety bond
Current through Register Vol. 46, No. 12, March 20, 2024
(a) A milk dealer may apply in writing to the commissioner to be exempted from filing a mandatory minimum surety bond pursuant to section 258-b(3)(c) of the law when such dealer elects to participate in the producers security fund or upon renewal of his milk dealer's license. Any such application must be filed not later than three months prior to the date the dealer intends to begin participating in the producers security fund or the date of license renewal and shall set forth the basis upon which an exemption is sought, including but not limited to current financial information.
(b) Notwithstanding the time established for milk dealers to apply for exemption from the mandatory minimum surety bond pursuant to subdivision (a) of this section, a milk dealer may apply not later than October 23, 1987 to be exempted from filing the initial such bond required pursuant to chapter 540 of the Laws of 1987.
(c) The criteria to be used in reviewing an applicant's financial condition, the viability of the producers security fund and the effect of the proposed exemption on security afforded producers shall include, but not be limited to, the following: