Each licensed handler and distributor shall pay the sums required with respect to each producer's payment received by him or her and the distributor's fee to the Secretary of Agriculture, Food and Markets by monthly payments, and shall file monthly reports on forms provided by the Secretary for this purpose of all matters of account for which a record is required to be kept. These payments and reports shall be due not later than the 28th day of the month following the month for which the payments and reports are made. A penalty of one percent per month on overdue payments shall be collected by the Secretary. (1965, No. 175, § 66; amended 1979, No. 101 (Adj. Sess.), § 7; 1981, No. 198 (Adj. Sess.), § 7, eff. April 22, 1982; 1991, No. 232 (Adj. Sess.), § 5; 2003, No. 42, § 2, eff. May 27, 2003.)