Section ATCP 101.255 - Reduced fund assessment for contributing vegetable contractors who also maintain security(1) VOLUNTARY SECURITY. A licensed vegetable contractor may at any time file security with the department, regardless of whether the vegetable contractor is required to file security. Except as provided in sub. (2), a voluntary security filing under this subsection does not relieve a vegetable contractor of any other obligation to file security or pay fund assessments. Note: A vegetable contractor who files voluntary security under sub.
(1) may be eligible for a reduction in fund assessments under sub. (2), and may be able to make a more favorable disclosure to producers under s. ATCP 101.26(2).(2) REDUCED ASSESSMENT. If, for the duration of a license year, a contributing vegetable contractor maintains security under sub. (1) in an amount that is at least equal to the vegetable contractor's estimated default exposure less the maximum fund reimbursement amount, the vegetable contractor's annual fund assessment under s. 126.60, Stats., for that year is reduced by an amount that is determined as follows: (a) Subtract the maximum fund reimbursement from the vegetable contractor's estimated default exposure.(b) Divide the result in par. (a) by the vegetable contractor's estimated default exposure. (c) Multiply the result in par. (b) by the amount of the vegetable contractor's annual fund assessment under s. 126.60(1), Stats., disregarding any assessment reduction under s. 126.60(5m), Stats.(d) Subtract, from the result in par. (c), the amount of any assessment reduction given under s. 126.60(5m), Stats.Wis. Admin. Code Department of Agriculture, Trade and Consumer Protection ATCP 101.255
Emerg. cr. eff. 4-29-04; CR 04-030: cr. Register September 2004 No. 585, eff. 10-1-04; CR 05-068: r. and recr. (1), am. (2) (intro.) Register April 2006 No. 604, eff. 5-1-06; correction in (2) (intro.) made under s. 13.92(4) (b) 7, Stats., Register June 2011 No. 666.