Fund 756 - Commission Merchants Act Account
Inactive Account 05/21/2005
Authority:
RCW 43.88.195
Admin Agency:
Department of Agriculture - 4950
Cash Type:
3 - Local Fund
SAAM Budget Type:
Earnings from Investments are:
Credited to the appropriate fund as directed by the Legislature and/or the administering agency of the fund. RCW’s 43.79A.040 and 43.84.092 do not apply.
Description:
Under the Commission Merchants Act commercial purchases of agricultural products from farmers must be licensed and bonded by the Department of Agriculture. When a purchaser fails to pay the farmers for their products, the bond is called and the farmers are allocated partial reimbursement. Often farmers may only receive a few cents on the dollar. This account is used to process these payments.
Sources of Revenue:
Charges and Miscellaneous Revenue, Other Miscellaneous Revenue
Clientele:
Farmers
Effective Date:
Inactive Date:
05/21/2005
Public Notes:
ACFR Information
Account Code:
756
Account Title:
Commission Merchants Act Account
Fund Type:
BA - Special Revenue Funds
Rollup Fund:
BB - Multimodal Transportation Fund
Closing GL Code:
