Filter Order in Procmailrc

When procmail uses its rc list against a given incoming email, does it 
actually start at the top of the rc and move down?  This would be 
important in the case of doing your discussion-list filtering first (at 
the top of the rc,) and then at the bottom, having a command that would 
trash any email which did not have my address in the TO field.

Of course if the rc is not read this way, this would not work.

Bryan