The Perishable Agricultural Commodities Act, 1930 (PACA), enacted 10 June 1930 and codified as Chapter 20A of Title 7 of the United States Code, is a law that authorizes the regulation of the buying and selling of fresh and frozen fruits and vegetables to prevent unfair trading practices and to assure that sellers will be paid promptly.
Perishable Agricultural Commodities Act, 1930
Long title
An Act to suppress unfair and fraudulent practices in the marketing of perishable agricultural commodities in interstate and foreign commerce.
Reported by the joint conference committee on May 16, 1930; agreed to by the House on June 3, 1930 (agreed) and by the Senate on June 3, 1930 (agreed)
Signed into law by President Herbert Hoover on June 10, 1930
According to PACA, both produce sellers and buyers must pay fees for a license in order to do business, and these license fees are the source of funding for a trust program that resolves disputes and protects sellers from non-payment when buyers become bankrupt. Amendments to the Act in 1995 (Pub. L.Tooltip Public Law (United States) 104–48 (text) (PDF), Sec. 3) include a 3-year phase out of the annual license fees for retailers and grocery wholesaler-dealers to be replaced by one-time fee. (7 U.S.C. § 499a et seq.).
perishable, agricultural, commodities, 1930, perishable, agricultural, commodities, 1930, paca, enacted, june, 1930, codified, chapter, title, united, states, code, that, authorizes, regulation, buying, selling, fresh, frozen, fruits, vegetables, prevent, unfa. The Perishable Agricultural Commodities Act 1930 PACA enacted 10 June 1930 and codified as Chapter 20A of Title 7 of the United States Code is a law that authorizes the regulation of the buying and selling of fresh and frozen fruits and vegetables to prevent unfair trading practices and to assure that sellers will be paid promptly Perishable Agricultural Commodities Act 1930Long titleAn Act to suppress unfair and fraudulent practices in the marketing of perishable agricultural commodities in interstate and foreign commerce Acronyms colloquial PACAEnacted bythe 71st United States CongressEffectiveJune 10 1930CitationsPublic lawPub L Tooltip Public Law United States 71 325Statutes at Large46 Stat 531Legislative historyIntroduced in the Senate as S 108 on May 3 1929Committee consideration by Senate Agriculture House AgriculturePassed the Senate on June 3 1929 passed Passed the House on May 14 1930 passed Reported by the joint conference committee on May 16 1930 agreed to by the House on June 3 1930 agreed and by the Senate on June 3 1930 agreed Signed into law by President Herbert Hoover on June 10 1930 According to PACA both produce sellers and buyers must pay fees for a license in order to do business and these license fees are the source of funding for a trust program that resolves disputes and protects sellers from non payment when buyers become bankrupt Amendments to the Act in 1995 Pub L Tooltip Public Law United States 104 48 text PDF Sec 3 include a 3 year phase out of the annual license fees for retailers and grocery wholesaler dealers to be replaced by one time fee 7 U S C 499a et seq References edit nbsp This article incorporates public domain material from Jasper Womach Report for Congress Agriculture A Glossary of Terms Programs and Laws 2005 Edition PDF Congressional Research Service Retrieved from https en wikipedia org w index php title Perishable Agricultural Commodities Act of 1930 amp oldid 1070919474, wikipedia, wiki, book, books, library,
