Iowa Administrative Code
Agency 21 - Agriculture and Land Stewardship Department
Chapter 91 - Licensed Grain Dealers
Rule 21-91.14 - Notice to the Warehouse Bureau
Universal Citation: IA Admin Code 21-91.14
Current through Register Vol. 47, No. 6, September 18, 2024
(1) The bureau shall be notified in writing prior to:
a. Change of ownership of the grain
dealer
b. Change of name or
business address of the grain dealer
c. Change of the grain dealer's fiscal year
end.
d. The ceasing of
operations.
(2) The licensee shall notify the bureau within 24 hours after the licensee knows or should have known any of the following:
a.
Licensee's net worth falling below the amount required by Iowa Code section
203.3
and if the amount of the deficiency is not covered by a net worth deficiency
bond.
b. Licensee's current assets
falling below the amount required by Iowa Code section
203.3
and the deficiency is not covered by a current ratio deficiency bond.
c. Class 2 licensee's grain purchases from
producers exceed $500,000 during the licensee's fiscal year
(3) The licensee shall notify the bureau in writing within ten days after the licensee knows or should have known either of the following:
a. Change in
management.
b. The death of an
individual or member of a partnership licensed as a grain dealer. This rule is
intended to implement Iowa Code sections
203.2
and
203.3.
Disclaimer: These regulations may not be the most recent version. Iowa 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.
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