Louisiana Administrative Code
Title 7 - AGRICULTURE AND ANIMALS
Part XXVII - Agricultural Commodity Dealer and Warehouse Law
Chapter 1 - Agricultural Commodities Commission
Subchapter C - Warehouse Licenses
Section XXVII-111 - Requirements Applicable to All Warehouses
Current through Register Vol. 50, No. 9, September 20, 2024
A. No person shall operate a warehouse subject to regulation under R.S. 3:3401-3425 unless licensed by the commission or under the U.S. Warehouse Act. The following types of warehouses are specifically defined as warehouses subject to regulation under R.S. 3:3401-3425:
B. Warehouses licensed under the U.S. Warehouse Act are not required to submit the application required under R.S. 3401-3425 and are not subject to all other requirements of R.S. 3:3401-3425 unless licensed under the provisions of R.S. 3:3401-3425.
C. No warehouse, whether licensed under R.S. 3:3401-3425 or the U.S. Warehouse Act, shall buy or sell agricultural commodities for producers unless such warehouse is also licensed by the commission as a grain dealer.
D. A single business entity which operates warehouse facilities at more than one location may be covered by one license. In such instances, the applicant shall provide separate capacity and personnel information for each location but may submit a consolidated financial statement covering all locations.
E. When two or more businesses which are separate legal entities, even though owned and/or operated by the same individual or the same legal entity, are operated at one or more physical locations, each separate legal entity shall obtain a separate license.
F. Each license is personal to the holder thereof and may not be transferred or assigned to another for any purpose or any period of time.
G. Licenses issued by the commission shall be consecutively numbered and the number shall include a fiscal year designation.
H. All warehouse licenses issued by the commission shall expire on June 30 following the date of issue.
I. For initial and continuing licensure, the facility shall meet all requirements of §113 of this Part.
J. The warehouse shall meet all security and insurance requirements set forth in §115 of this Part prior to issuance of the license. Failure to maintain the required security and insurance in full force and effect for the license period shall subject the licensee to revocation of its license.
K. The person in charge of each warehouse unit shall possess the following qualifications:
L. Provisions Relative to the Schedule of Tariffs or Charges
M. Each warehouse shall maintain a daily inventory report on forms provided by the commission.
AUTHORITY NOTE: Promulgated in accordance with R.S. 3:3405, R.S. 3:3409, R.S. 3:3410 and R.S. 3:3420.