202.2 - PRODUCTION CONTRACTS GOVERNED BY THIS CHAPTER.
202.2 PRODUCTION CONTRACTS GOVERNED BY THIS
CHAPTER.
1. This chapter applies to a production contract that relates to
the production of a commodity owned by an active contractor and
produced by a contract producer at the contract producer's contract
operation, if one of the following applies:
a. The contract is executed by an active contractor and a
contract producer for the production of the commodity.
b. The contract is executed by an active contractor and a
passive contractor for the provision of management services to the
contract producer in the production of the commodity.
c. The contract is executed by a passive contractor and a
contract producer, if all of the following apply:
(1) The contract provides for management services furnished by
the passive contractor to the contract producer in the production of
the commodity.
(2) The passive contractor has a contractual relationship with
the active contractor involving the production of the commodity.
2. A production contract is executed when it is signed or orally
agreed to by each party or by a person who is authorized by a party
to act on the party's behalf. Section History: Recent Form
99 Acts, ch 169, §3, 22--24
Referred to in § 202.1