576.125 - Accounting and remittances by commission merchants; records of sales; payments by dealers; penalties for nonpayment.
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.
(Added to NRS by 1965, 395; A 1989, 336; 1993, 1771; 1995, 1304; 1999, 3711)