A bill to amend the Perishable Agricultural Commodities Act, 1930, by impressing a trust on perishable agricultural commodities and sales proceeds of such commodities for the benefit of the unpaid seller, and for other purposes.

Summary

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.

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Timeline

1. 4 November 1983

   Introduced

   Read twice and referred to the Committee on Agriculture.

   Source: IntroReferral

2. 4 November 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 7 November 1983

   Committee

   Subcommittee on Agricultural Production. Hearings held. Hearings printed: S.Hrg. 98-614.

   Source: Committee

4. 22 December 1983

   Committee

   Committee on Agriculture received executive comment from USDA.

   Source: Committee

5. 7 May 1984

   Committee

   See H.R. 3867.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 4 November 1983

  Open at official source

Sponsors

• Sen. Helms, Jesse [R-NC] · R · Sponsor
• Sen. Huddleston, Walter (Dee) [D-KY] · D · Sponsor
• Sen. Hawkins, Paula [R-FL] · R · Sponsor
• Sen. Wilson, Pete [R-CA] · R · Sponsor
• Sen. Symms, Steven D. [R-ID] · R · Sponsor
• Sen. Trible, Paul S., Jr. [R-VA] · R · Cosponsor
• Sen. Melcher, John [D-MT] · D · Cosponsor
• · ssaf00 · Standing

Related records

• related to → 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.