80-11-412. Assessment on mint oil. (1) There is levied on all mint oil produced in this state and sold through normal commercial channels an assessment of not less than 5 cents or more than 15 cents a pound. The assessment is levied on each grower in the following manner:
     (a) in the case of the sale of mint oil, the assessment must be collected by the first purchaser from the grower at the time of each settlement for mint oil purchased; or
     (b) in the case of a pledge or mortgage of mint oil as security for a loan, the assessment must be collected by deducting the amount of the assessment from the proceeds of the loan at the time the loan is made by the agency or person making the loan.
     (2) The assessment must be deducted and collected whether the mint oil is stored in this state or any other state. The assessment is imposed on the initial sale, pledge, mortgage, or other transaction in which a grower parts with title to the mint oil or creates an interest in the mint oil in a pledgee, mortgagee, or other person, but a grower is not subject to assessment more than once regardless of the number of times the oil is subject to a sale, pledge, mortgage, or other transaction.
     (3) The committee shall by rule set the amount of the assessment annually in accordance with subsection (1).

     History: En. Sec. 8, Ch. 182, L. 1989; amd. Sec. 2, Ch. 62, L. 1993.