Section 40-33-1 - Definition of terms

40-33-1. Definition of terms.Terms used in this chapter mean:(1)'Due date,' seven days from the date of delivery of produce by the seller to the dealer at wholesale in the case of a sale, and in all cases where produce is consigned, seven days from the date the sale is made by the broker or handler to the dealer at wholesale;(2)'Person,' an individual, firm, corporation, limited liability company, copartnership, or association;(3)'Produce,' includes eggs, poultry, poultry products, or dairy products;(4)'Voluntary extension of credit,' a written agreement between the seller and the dealer at wholesale wherein the time of payment for the purchase price of produce is extended beyond the due date. Source: SL 1955, ch 5, §1; SDC Supp 1960, §4.2401; SL 1963, ch 9, §1; SL 1994, ch 351, §99.