Section 202.2 - Production contracts governed by this chapter1. This chapter applies to a production contract that relates to the production of a commodity owned by an active contractor and produced by a contract producer at the contract producer's contract operation, if one of the following applies: a. The contract is executed by an active contractor and a contract producer for the production of the commodity.b. The contract is executed by an active contractor and a passive contractor for the provision of management services to the contract producer in the production of the commodity.c. The contract is executed by a passive contractor and a contract producer, if all of the following apply:(1) The contract provides for management services furnished by the passive contractor to the contract producer in the production of the commodity.(2) The passive contractor has a contractual relationship with the active contractor involving the production of the commodity.2. A production contract is executed when it is signed or orally agreed to by each party or by a person who is authorized by a party to act on the party's behalf.99 Acts, ch 169, §3, 22 - 24
99 Acts, ch 169, §3, 22 - 24