N.M. Admin. Code § 21.17.48.8

Current through Register Vol. 36, No. 1, January 14, 2025

Section 21.17.48.8 - ASSESSMENT

A. The committee assessment rate is set forth at 2 dollars and fifty cents ($2.50) per bale of cotton for all cotton produced by producers in the control district. The assessment will be collected at the gin.

B. Payment of the assessment levied by a local control committee against a cotton producer will be due and payable when the cotton producer receives an assessment statement from the control committee.

C. Failure to comply with payment of assessment to the committee may result in the recording of a lien on the cotton crop and/or property in the county clerk's office where the property is located. The lien will remain in effect until foreclosure or balance subject to the lien is paid in full. Interest may be assessed at a rate of 81/2 percent per annum on the balance unpaid after 30 days.

N.M. Admin. Code § 21.17.48.8

07/31/98; 21.17.48.8 NMAC - Rn & A, 21 NMAC 17.48.8, 6/14/2001; A, 9/30/2002; A, 10/1/2004