M-35 - Farm Products Marketing Act

Section 29 Disposition versions

1977-12-31

29. The alienation or concession of the whole or part of an undertaking otherwise than by a judicial sale shall not invalidate a joint plan, an agreement reached under this act, an arbitration decision or any other procedure relating to the approval or carrying out of a joint plan, or such an agreement or arbitration decision.

Notwithstanding such alienation or concession of the whole or part of an undertaking or the division, amalgamation, or change in the juridical structure of the undertaking, the new purchaser for whom the farm product contemplated in the plan is intended is bound by the joint plan, the agreement under this act or the arbitration decision as if he had been named in it, and he becomes ipso facto a party without continuance of suit to any proceeding relating thereto, in the place and stead of the former purchaser.

The Board may make any order considered necessary to establish the transfer of the rights and obligations contemplated in this section and settle any problem resulting from its application.

1974, c. 36, s. 29.