Wisconsin § 126.58 - Vegetable contractors; financial statements.
Full text of Wisconsin Wisconsin Statutes § 126.58 — Vegetable contractors; financial statements., with citation guidance and answers to common questions.
§ 126.58. Vegetable contractors; financial statements.
126.58(1) (1) Required annual financial statement. 126.58(1)(a) (a) Except as provided in par. (c) , a vegetable contractor shall file an annual financial statement with the department, before the department first licenses the vegetable contractor under s. 126.56 (1) , if the vegetable contractor reports more than $500,000 in contract obligations under s. 126.56 (9) (am) . 126.58(1)(b) (b) Except as provided in par. (c) , a vegetable contractor licensed under s. 126.56 (1) shall file an annual financial statement with the department during each license year if the vegetable contractor’s license application for that year reports more than $500,000 in contract obligations under s. 126.56 (9) (am) . The vegetable contractor shall file the annual financial statement by the 15th day of the 4th month following the close of the vegetable contractor’s fiscal year, except that the department may extend the filing deadline for up to 30 days if the vegetable contractor, or the accountant reviewing or auditing the financial statement, files a written extension request at least 10 days before the filing deadline. 126.58(1)(c) (c) A vegetable contractor is not required to file a financial statement under par. (a) or (b) if any of the following applies: 126.58(1)(c)1. 1. The vegetable contractor pays cash on delivery under all vegetable procurement contracts. 126.58(1)(c)2. 2. The vegetable contractor is a producer-owned cooperative or unincorporated cooperative association that procures processing vegetables only from its producer owners. 126.58(1)(c)3. 3. The vegetable contractor is a processing potato buyer who has elected not to participate in the fund in accordance with s. 126.595 (1) . 126.58(2) (2) Voluntary financial statement. A contributing vegetable contractor who is not required to file a financial statement under sub. (1) may file an annual financial statement with the department for any of the following reasons: 126.58(2)(a) (a) To qualify for a lower fund assessment under s.
Frequently Asked Questions About Wisconsin § 126.58
What does Wisconsin Statutes § 126.58 cover?
Section 126.58 ("Vegetable contractors; financial statements.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wisconsin § 126.58?
A common citation format is "Wisconsin Statutes § 126.58" (Wisconsin). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 126.58 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wisconsin.