Idaho Administrative Code
Title IDAPA 02 - Agriculture, Department of
Rule 02.02.13 - COMMODITY DEALERS' RULES
Section 02.02.13.300 - FINANCIAL STATEMENT

Universal Citation: ID Admin Code 02.02.13.300

Current through August 31, 2023

01. Financial Statements. In order to obtain a commodity dealer's license, the applicant shall submit a current financial statement prepared not more than ninety (90) days prior to the date of application and conform to the applicable requirements of Title 69, Chapter 5, Idaho Code, as to annual financial statements. (3-15-22)

02. Statement Compliance. Each licensed commodity dealer shall submit to the Department an annual financial statement that has been audited or reviewed by an independent certified public accountant or independent licensed public accountant. The statement shall be submitted to the Department no later than ninety (90) days after the end of the commodity dealer's fiscal year. The commodity dealer license may be suspended or revoked for failure to comply with licensing requirements stated in Subsection 300.01 of these rules and Section(s) 69-503(6) and 69-521, Idaho Code. (3-15-22)

a. The Department may grant an extension of no more than sixty (60) days, provided cause of an exceptional nature is provided, in writing, to the Department. (3-15-22)

b. The request must be made by a certified public accountant or a licensed public accountant. (3-15-22)

c. The request is made prior to the date the financial statement is due. (3-15-22)

d. The director may make exceptions to the financial statement requirements provided sufficient cause is provided and to do so would be in the best interest of the state. (3-15-22)

03. Statement Content. The statement shall include: (3-15-22)

a. A balance sheet. (3-15-22)

b. An income statement that includes annual gross sales of commodities purchased from producers covered under the act. (3-15-22)

c. A statement of cash flows. (3-15-22)

d. All accompanying notes to the financial statement. (3-15-22)

Disclaimer: These regulations may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.