NRS 576.125
Accounting and remittances by commission merchants

  • records of sales
  • payments by dealers
  • penalties for nonpayment.

1.

If requested by his or her consignor, a commission merchant shall, before the close of the next business day following the sale of any farm products consigned to him or her, transmit or deliver to the owner or consignor of the farm products a true written account of the sale, showing the amount sold and the selling price. Remittance in full of the amount realized from such sales, including all collections, overcharges and damages, less the agreed commission and other charges, together with a complete account of sales, must be made to the consignor within 10 days after receipt of the money by the commission merchant, unless otherwise agreed in writing.

2.

Each commission merchant shall retain a copy of all records covering each transaction for 1 year after the date thereof, which copy must at all times be available for and open to the confidential inspection of the Director and the consignor, or an authorized representative of the Director or consignor.

3.

Each dealer shall pay for farm products delivered to him or her at the time and in the manner specified in the contract with the producer, but if no time is set by the contract, or at the time of the delivery, within 30 days after the delivery or taking possession of the farm products, except that livestock whose sale is subject to the Packers and Stockyards Act, 7 U.S.C. §§ 181 to 231, inclusive, must be paid for within the period required by that act and any applicable regulations adopted pursuant thereto.

4.

A person who, with the intent to defraud, fails to make full payment for farm products purchased pursuant to this chapter within 10 days after receiving written notice of the fact that the payment is past due:

(a)

Is guilty of a gross misdemeanor, if the amount owed is $1,000 or less.

(b)

Is guilty of a category D felony, if the amount owed is more than $1,000, and shall be punished as provided in NRS 193.130. In addition to any other penalty, the court shall order the person to pay restitution.

Source: Section 576.125 — Accounting and remittances by commission merchants; records of sales; payments by dealers; penalties for nonpayment., https://www.­leg.­state.­nv.­us/NRS/NRS-576.­html#NRS576Sec125.

576.010
Definitions. 576.012
“Alternative livestock” defined. 576.013
“Cash buyer” defined. 576.014
“Consignor” defined. 576.015
“Department” defined. 576.016
“Fixed and established place of business” defined. 576.017
“Livestock” defined. 576.018
“Producer” defined. 576.020
Acting as broker, dealer, commission merchant or agent without license prohibited 576.030
Application for license: Contents 576.032
Additional requirements for issuance and renewal of license: Statement regarding obligation of child support 576.035
Previous convictions and violations by applicant may be considered as adverse showing of character, responsibility and good faith 576.037
Petition to review criminal history to determine if criminal history disqualifies applicant. 576.040
Bonds and other security 576.042
Civil action for violation of chapter or misrepresentation or fraud 576.045
Retention of money or securities deposited in lieu of bond after operations cease. 576.048
Revocation for default 576.050
Annual license fee. 576.060
Investigation of applicant 576.080
Form and contents of licenses. 576.090
Expiration of licenses. 576.095
Licensing of other classifications without payment of fee. 576.100
Agents: Designation 576.105
Application for renewal of license required to include information relating to state business license 576.110
Investigation of transactions involving farm products. 576.0115
“Agent” defined. 576.0117
“Agricultural product” defined. 576.120
Grounds for refusing to grant or renew or for suspension or revocation of license 576.121
Mandatory suspension of license for failure to pay child support or comply with certain subpoenas or warrants 576.123
Records of commission merchants, dealers and brokers. 576.0125
“Broker” defined. 576.125
Accounting and remittances by commission merchants 576.127
Cargo manifests required to be carried on motor vehicles operated by dealers and commission merchants 576.128
Certification as actual producer of certain farm products: Regulations of Department 576.129
Alternative livestock: Permit required 576.131
Alternative livestock: Recapture of escaped livestock 576.132
Free-sale certificate for agricultural product 576.133
Cease and desist orders. 576.135
Injunctions 576.0135
“Commission merchant” defined. 576.137
Exemption for cash buyer purchasing for own use. 576.140
Inapplicability of chapter. 576.0145
“Dealer” defined. 576.150
Civil and criminal penalties 576.0152
“Director” defined. 576.0155
“Farm products” defined. 576.0162
“Free-sale certificate” defined. 576.0165
“Immediate resale” defined. 576.0175
“Produce vendor” defined. 576.1285
Registration as produce vendor
Last Updated

Feb. 5, 2021

§ 576.125’s source at nv​.us