(2) Requirement.
(a) To qualify for license under the Georgia
State Warehouse Act, each applicant must submit or provide: a completed
application, an appropriate and sufficient financial statement if required,
proof of stock insurance, a warehousemen's bond, the certified public weigher's
fees for licenses and seals, a schedule of charges, and the appropriate annual
warehouse license fee.
1. Annual warehouse
license fees for grain warehouses will be based upon the highest certified
capacity during the preceding license year and prescribed by the following
formulas:
Warehouses with under 200,000 bushels = $2,000.00
Warehouses with equal to or over 200,000 bushels =
$2,500.00
2. Annual
warehouse license fees for cotton warehouses will be based upon the highest
certified capacity during the preceding license year and prescribed by the
following formulas:
Warehouses with less than 7,500 bales = $2,000.00
Warehouses with equal to or more than 7,500 bales =
$2,500.00
3. Warehouses
certified for the storage of other agricultural products shall pay an annual
license fee of $2,500.
(b) Applications for renewal of licenses will
be submitted to the Director at least thirty days prior to July 1st of each
year.
(c) Bond requirements will be
as provided in O.C.G.A.
10-4-12, except that:
1. The requirement for bond, if for cotton,
will be $5.00 per bale for licensed storage capacity.
2. In lieu of a surety bond, the Commissioner
may accept a cash bond which shall be, in all respects, subject to the same
claims as would exist against a surety bond.
(d) For a license renewal, financial
statements shall be submitted annually, no later than 60 days following the
applicant's fiscal year close.
1. The net
worth of the financial statement must equal or exceed the minimum bond
requirement or an additional bond equal to twice the difference must be
provided within 60 days following notification.
2. For license renewal, financial statements
shall be submitted annually, no later than 60 days following the applicant's
fiscal year close. Applicants who cannot meet this requirement may apply to the
Commissioner for a temporary waiver of this provision. Any such waiver granted
shall not exceed 180 days following the applicant's fiscal year
close.
