Current through Register Vol. 47, No. 6, September 18, 2024
(1)
Warehouse receipt forms. Warehouse receipt forms shall be 8.25
inches wide by 7 inches long or 8.5 inches wide by 11 inches long and shall be
printed in not less than triplicate. The original receipt shall be white, and
the weight of the paper shall not be less than 20-pound base; the warehouse
operator's copy shall be yellow and the weight of the paper shall not be less
than 16-pound base; and the owner's copy shall be green and the weight of the
paper shall not be less than 16-pound base. Receipts issued for bulk grain and
receipts issued for agricultural products other than bulk grain shall be in a
form prescribed by the department. The bureau shall have control over the
printing of warehouse receipts.
(2)
Electronic warehouse receipts. A warehouse operator licensed
in accordance with the provisions of Iowa Code chapter 203 C may contract with
an independent provider to issue electronic warehouse receipts for grain and
other agricultural products subject to the provisions of this chapter The
provider shall be approved by the department.
(3)
Electronic warehouse receipt
providers and provider agreements. A provider shall be independent of
any outside influence or bias in action or appearance. A provider shall enter
into a provider agreement with the department prior to being approved by the
department. A provider shall file and maintain electronic warehouse receipts
only on behalf of licensed warehouse operators who contract with the provider
for those services. The provider agreement shall be subject to, but not be
limited to, the provisions of paragraphs"a"
through"k" of this subrule.
a.
Provider to he approved by the
USDA. No provider shall be approved by the department unless the
provider is first approved as an electronic warehouse receipt provider by the
USDA pursuant to the provisions of 7 CFR Part 735. Upon department request, a
provider shall provide a copy of the provider's executed USDA Form WA-460 and
any addenda, and any other documentation requested by the department to confirm
that the provider is a USDA-approved provider in good standing.
b.
USDA action against
providers. In the event that the USDA shall take action to deny,
withdraw, suspend, reinstate or terminate a USDA Provider Agreement, the
department shall automatically take the same action and the provider shall be
subject to such action by the department. A provider shall notify the
department of any such actions taken by the USDA.
c.
Provider to service only licensed
warehouse operators. A provider shall enter into user agreements under
the terms of this rule only with warehouse operators licensed in accordance
with the provisions of Iowa Code chapter 203 C. A provider shall not issue
electronic warehouse receipts for grain or other agricultural products on
behalf of a warehouse operator in the state of Iowa unless the warehouse
operator is licensed in accordance with the provisions of Iowa Code chapter
203C or the United States Warehouse Act.
d.
Notice requirements for
providers.
(1) When entering into a
new user agreement, a provider shall provide written notice to the
department.
(2) All notices to the
USDA required by 7 CFR Part 735 and in the USDA Provider Agreement shall also
be served upon the department except as specifically exempted in the provider
agreement.
(3) In the user
agreement, a provider shall include a notice to the warehouse operator that the
data on the provider's central filing system is subject to disclosure to the
department and the USDA.
e.
Provisions to cease issuing
electronic warehouse receipts. Upon notice by the department that a
warehouse operator license issued under Iowa Code chapter 203 C has expired or
has been canceled, suspended or revoked, a provider shall prohibit the
warehouse operator from issuing any electronic warehouse receipts until further
notice from the department.
f.
Department access to electronic warehouse receipt data. A
provider shall allow the department unrestricted access to the central filing
system for electronic warehouse receipts issued on behalf of warehouse
operators licensed by the department. The electronic warehouse receipt data
shall be maintained for six years after cancellation of the receipts. Access
shall be made available in a manner that allows interaction with department
warehouse examinations. Access shall be free of any charge or costs to the
department.
g.
Information
profile. Upon issuance of a new user agreement to a warehouse operator
licensed under Iowa Code chapter 203 C, the provider shall notify the
department and request an information profile. The department shall provide an
information profile about the warehouse operator to the provider The
information profile shall consist of identifying information unique to each
warehouse operator and shall be contained within each electronic warehouse
receipt issued by a warehouse operator The information profile shall include
all statements and content required for warehouse receipts by the laws of the
state of Iowa and as required by the provisions of the USDA Form WA-460 and any
addenda pursuant to paragraph
"a " of this subrule. This
information profile shall include, but not be limited to, the following:
(1) The warehouse operator's name;
(2) The type of business organization and the
state under whose laws the business is organized;
(3) The location of the warehouse operator's
corporate headquarters and the location of the warehouse;
(4) The warehouse operator's license number;
and
(5) For grain warehouse
receipts, the following statement: "The warehouse operator named herein,
licensed under Iowa Code chapter 203 C, has received for storage bulk grain of
the amount, kind and grade, as determined in accordance with the official grain
standards of the United States, for which this receipt is issued, subject to
the provisions of Iowa Code chapters 203C and 203D and the applicable rules.
Said grain is fully insured, unless otherwise allowed by law and noted within
this receipt, by the above-named warehouse operator against loss or damage by
fire, windstorm and inherent explosion."
h.
Termination of provider
agreement. The department or provider may terminate the provider
agreement upon 60 days' written notice to the other party. The department shall
terminate a provider agreement on less than 60 days' notice in accordance with
paragraph"b" of this subrule. Upon termination of the provider
agreement, the provider shall immediately surrender copies of the electronic
data and paper records to the department for any electronic warehouse receipts
contained within the central filing system. Such data and paper record copies,
however, are limited to electronic warehouse receipts issued by warehouse
operators licensed under the provisions of Iowa Code chapter 203C.
i. Authorization, jurisdiction and liability.
A provider shall be authorized to transact business in the state of Iowa and
shall consent to jurisdiction in the state of Iowa and venue in Polk County,
Iowa. A provider shall be liable to the department for costs incurred by the
department as a result of action taken in the event of a failure of the central
filing system or any inability to provide the access required in paragraph '/"
of this subrule.
j.
Nonexclusive use. A warehouse operator shall not be required
to issue warehouse receipts in electronic form.
k.
Receiverships and indemnity fund
claims -
department as electronic warehouse receipt
holder
(1) A provider shall allow
for the department and the grain indemnity fund board to be a sole or joint
holder of an electronic warehouse receipt when the issuing warehouse operator's
license has been revoked and either one or both of the following apply:
1. The electronic warehouse receipt has been
surrendered to the department by a claimant for the proceeds of a grain
receivership pursuant to Iowa Code chapter 203 C.
2. The electronic warehouse receipt has been
surrendered to the department or the grain indemnity fund board by a claimant
for payment of a grain indemnity fund claim pursuant to Iowa Code chapter
203D.
(2) When an
electronic receipt holder files a claim against a grain receivership or against
the grain indemnity fund, the department shall obtain the consent and
instruction of the holder to change the holder information on the provider's
central filing system. The provider shall take any action ordered by the
department in regard to an electronic warehouse receipt involved with a grain
receivership or a grain indemnity fund claim. The department shall provide
documentary evidence of the claim and any resulting required action to the
provider The department may order any action including, but not limited to, the
following:
1. Reducing the quantity and value
of the product represented by an electronic receipt upon payment of partial
value from either receivership proceeds or the grain indemnity fund;
2. Prohibiting an electronic warehouse
receipt from being negotiated or otherwise transferred without the department's
consent due to payment of partial value from either receivership proceeds or
the grain indemnity fund;
3.
Canceling a warehouse receipt upon payment of full value to a claimant from
receivership proceeds, and issuing a replacement receipt to the department if
needed.
(4)
Electronic warehouse receipt
users and agreements. Prior to engaging in the issuance of electronic
warehouse receipts, a warehouse operator shall enter into a user agreement with
a provider approved by the department. All electronic warehouse receipts issued
by the warehouse operator shall be issued through and filed in the provider's
electronic central filing system. As used in this subrule, "warehouse operator"
means a warehouse operator who has obtained a license for the operation of a
warehouse under Iowa Code section
203C.6.
The use of electronic warehouse receipts is subject to the provisions of
paragraphs 90.15(3)"a" through"g. "
a.
Warehouse operator to use only one
provider A warehouse operator shall issue electronic warehouse
receipts through only one provider
b.
Changing providers.
Subject to the provisions of a user agreement in effect, a warehouse operator
may change providers once per year. The provider shall follow the transfer
terms specified in USDA Form WA-460 and any addenda pursuant to paragraph
90.15(3)"a. " The warehouse operator shall notify the
department of a change in provider
c.
Numbering of receipts
-no duplication. Electronic warehouse receipts shall be
numbered and shall be issued consecutively starting with the number specified
to the provider by the department. A warehouse operator shall not at any time
have an electronic warehouse receipt and a paper warehouse receipt outstanding
for the same lot of grain.
d.
Nonexclusive use. A warehouse operator shall not require a
depositor to accept an electronic warehouse receipt in lieu of a paper
warehouse receipt.
e.
Receipt holder power of attorney. A warehouse operator or a
third party may not handle electronic warehouse receipts on behalf of a
depositor unless a written power of attorney to do so has been provided by the
depositor Such power of attorney shall be provided to the department for
inspection and verification upon the department's request.
f.
Issuance and cancellation of
receipts. The provisions for issuance and cancellation of warehouse
receipts found in rules
21-90.12
(203C) and
21-90.13
(203C) shall apply to electronic warehouse receipts except to the extent that
the rules are not applicable to electronic warehouse receipts. A warehouse
operator shall not cancel an electronic warehouse receipt unless the warehouse
operator is the holder of the warehouse receipt.
This rule is intended to implement Iowa Code sections 203C.2,
203C.5, 203C.6 and 203C.I8.
