H.R. 3867 · 98th Congress · enacted
A bill to amend the Perishable Agricultural Commodities Act, 1930, by impressing a trust on the commodities and sales proceeds of perishable agricultural commodities for the benefit of the unpaid seller, and for other purposes.
Became Public Law No: 98-273.
Latest official action 1984-05-07 · Enacted
The bill, briefly
Amends the Perishable Agricultural Commodities Act, 1930, to impress a trust on behalf of an unpaid seller or supplier on the inventories, commodities, or proceeds from the sale of such commodities held by a commission merchant, dealer, or broker. States that payment shall not be considered to have been made if the supplier, seller, or agent receives a payment instrument which is dishonored. Exempts cooperative association-member transactions from such provisions. States that an unpaid seller or supplier shall lose such trust benefits unless he or she: (1) gives written notice of intent to preserve such benefits to the commission dealer or agent; and (2) files such notice with the Secretary of Agriculture within specified times. Vests U.S. district courts with jurisdiction over actions to preserve a trust or to enforce a trust beneficiary's payment. Makes a failure to properly maintain a seller trust or violation of such Act.
Congressional Research Service · 1983-09-13
Who reported lobbying on this bill?
Amount spent specifically on this bill: not disclosed
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Politicians behind the bill
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36 of 36 source cosponsor records retrieved; only current officials and unwithdrawn sponsorships appear.
PAC donors to the listed sponsors
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What happened after enactment?
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