Food and Agricultural Code - FAC
DIVISION 20. PROCESSORS, STORERS, DEALERS, AND DISTRIBUTORS OF AGRICULTURAL PRODUCTS [54001 - 57700]
( Division 20 enacted by Stats. 1967, Ch. 15. ) CHAPTER 6. Processors of Farm Products [55401 - 55922]
( Chapter 6 enacted by Stats. 1967, Ch. 15. ) ARTICLE 1. Definitions [55401 - 55409]
( Article 1 enacted by Stats. 1967, Ch. 15. ) 55405.
“New value” includes any new advance or loan, whether in money or other property, which is made by a lender to a processor. It does not, however, include any extension or renewal of any existing obligation of the processor, nor any obligation which is substituted for such existing obligation.
(Enacted by Stats. 1967, Ch. 15.)