. 



MILK DEALERS 



The following is a breakdown of the bond account according to 

 the different types of securities and compared with June 30, 1970: 



$1,074,418.01 $1,043,154.01 

 ' FORECLOSURES 



Du'^i'^'S' ths ^isca'' •'=■=■" -"-v-c-^^ri •^•gij^p t-^q f'^r^rlo^T'Tes or "ilVi 

 dealer surety bonds althou~h, r=veral forerrlosures •■■rer'^ averted 

 by means other than the legal foreclosure process. 



G^MEP-^.L 



During the fiscal year the milk dealers' Bonding law was 

 amended by the legislature. The new law was necessary in order 

 to be in line with the updated practices of the dairy in'^ustry. 

 The major changes involved in the law are: 



1. Definitions of words contained in the lav/. 



2. The exemption of .milk producer co-operatives from 

 bonding provisions. 



3. The deletion of Section 42K which involved appeal 

 procedure. 



