Section 16-1502 - Contract termination or cancellation; notification, time periods(a) Except as provided in subsection (b), if a producer fails to comply with the provisions of a contract that requires a capital investment in excess of $100,000 or more and has a useful life of five years or more, a contractor may not terminate or cancel that contract until: (1) The contractor has given written notice with all the reasons for the termination or cancellation at least 90 days before termination or cancellation or as provided in subsection (b); and(2) the producer who receives the notice fails to correct the reasons stated for termination or cancellation in the notice within 60 days of receipt of the notice.(b) The 90-day notice period and 60-day notice period under subsection (a)(1) and (2) are waived and the contract may be terminated or canceled immediately if the alleged grounds for termination or cancellation are:(1) Voluntary abandonment of the contract relationship by the producer;(2) conviction of the producer of an offense directly related to the business contracted under the contract;(3) material breach of the contract by the producer;(4) a failure to care for the swine in accordance with good animal husbandry practices;(5) the bankruptcy or insolvency of the producer; or(6) an acceleration of any indebtedness secured by the property on which the swine are being raised.L. 1994, ch. 130, § 9; April 14.