California Food and Agricultural Code
§ 55405
FAC § 55405Div. 20 · Ch. 6 · Art. 1
Statute text
View on leginfo.ca.gov“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.
Legislative history
Enacted by Stats. 1967, Ch. 15.