First purchaser definition

First purchaser means the first buyer of a manufactured item that contains ferrous or nonferrous metal in a retail or business-to-business transaction. A person that purchases scrap metal, or other property described in section 10, in violation of this act, or an automotive recycler, pawnshop, scrap metal recycler, or scrap processor is not considered a first purchaser.
First purchaser means the first person that purchases oil or gas production from an operator or interest owner after the production is severed, or an operator that receives production proceeds from a third‑party purchaser who acts in good faith under a division order or other agreement signed by the operator under which the operator collects proceeds of production on behalf of other interest owners. To the extent the operator receives proceeds attributable to the interest of other interest owners from a third‑party purchaser who acts in good faith under a division order or other agreement signed by such operator, the operator shall be considered to be the first purchaser of the production for all purposes under this section, notwithstanding the characterization of other persons as first purchasers under other laws or regulations. To the extent the operator has not received from the third‑party purchaser proceeds attributable to his interest and the interest of other interest owners, the operator is not considered the first purchaser for the purposes of this section, and is entitled to all rights and benefits under this section. Nothing herein shall impair or affect any rights otherwise held by a royalty owner to take its share of oil in kind or receive payment directly from a third‑party purchaser for such royalty owner's share of oil production with or without a previously made agreement.
First purchaser means any person accepting for sale or otherwise acquiring dry peas and lentils from a grower after harvest. The term includes a mortgagee, pledgee, lienor, and any person having a claim against the producer, when the actual or constructive possession of dry peas and lentils is taken as partial payment or in satisfaction of a mortgage, pledge, lien, or claim.

Examples of First purchaser in a sentence

  • First purchaser - Certificate.1. Before a first purchaser of dry peas and lentils may sell, process, or ship any dry peas or lentils, the first purchaser shall obtain a certificate from the council.2. The certificate is available upon submission to the council of an application containing the name under which the first purchaser is transacting business within this state, the first purchaser's place of business, and the location of loading and shipping places of the first purchaser's agents.


More Definitions of First purchaser

First purchaser means the first person who purchases oil or gas from an interest owner at or after the time the oil or gas is severed.
First purchaser means the first person that purchases oil
First purchaser means a person who purchases oil from a producer.
First purchaser means any person who buys the commodity for which a com- mission is established from the producer in the first instance, or handler who received the commodity in the first instance from the producer for resale or processing.
First purchaser means a person who buys milk from a producer and resells that milk or products made from the milk to another person.
First purchaser means the first buyer of a manufactured product containing nonferrous metal in a retail or business-to-business transaction. Persons purchasing nonferrous metal in violation of this act, automotive recyclers, pawnshops, scrap metal recyclers, and scrap processors are not considered first purchasers.