Fund 756 - Commission Merchants Act Account
Inactive Account 05/20/2005
Department of Agriculture - 4950
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.
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
Commission Merchants Act Account
BA - Special Revenue Funds
BB - Multimodal Transportation Fund
Closing GL Code: