As used in this act:

1. 1. "Cooperative association" means any group in which farmers act together in the market preparation, processing, or marketing of farm products or any association organized under Section 332 of this title;
2. 2. "Dairy farmer" means a farmer engaged in the business of producing milk for sale to milk processors directly or through a cooperative association of which the dairy farmer is a member. When a dairy farmer has sold milk through a cooperative association of which the dairy farmer is a member, such cooperative association shall be considered a dairy farmer for purposes of this act;
3. 3. "Milk processor" means a person who operates a milk, milk products, or frozen desserts processing plant that is located in the State of Oklahoma;
4. 4. "Purchase price" means an amount of money, based on estimated butterfat content at the time of delivery, that a milk processor agrees to pay a dairy farmer for a purchase of raw milk; and
5. 5. "Escrow account agent" means an entity within this state which is insured either by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation.

Added by Laws 1988, c. 139, § 1, eff. November 1, 1988; Amended by Laws 1989, c. 182, § 2, operative July 1, 1989.