Haw. Code R. § 4-48-8 - Commission merchant requirements

(a) The commission merchant shall establish the commission rate and other charges to be assessed with the producer-consignor prior to the handling of farm products on consignment.

(b) The commission merchant shall exercise reasonable care and diligence in selling the consigned products promptly in a fair and reasonable manner.

(c) The commission merchant may not reconsign farm products to another person and incur additional commissions, charges, or expenses without the expressed consent of the producer-consignor.

(d) The commission merchant shall not purchase consigned farm products or sell to firms over which the commission merchant has direct or indirect control, without specific prior authority of the producer-consignor. The commission merchant may purchase such farm products at reasonable market value to clean up remnants of shipments to expedite accounting.

(e) Within seven days after the final sale of any lot of consigned farm products, the commission merchant shall make a written report to the producer showing the quantity sold, the selling price, and the quantity dumped or discarded.

Notes

Haw. Code R. § 4-48-8

[Eff 5/29/81; comp 3/24/86] (Auth: HRS § 145-15) (Imp: HRS §§ 145-2, 145-4 and 145-5)