Food and Agricultural Code section 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.

Source: Section 55405, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FAC§ionNum=55405. (accessed May 26, 2025).

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Last Updated

May 12, 2025

§ 55405’s source at ca.gov

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Location: https://california.public.law/codes/food_and_agricultural_code_section_55405

Original Source: Section 55405, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FAC§ionNum=55405. (last accessed May 12, 2025).