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HF 915

as introduced - 91st Legislature (2019 - 2020) Posted on 02/11/2019 03:55pm

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Introduction Posted on 02/07/2019

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16

A bill for an act
relating to agriculture; requiring an annual inventory examination for licensed
grain buyers; proposing coding for new law in Minnesota Statutes, chapter 223.


Section 1.

new text begin [223.185] GRAIN INVENTORY EXAMINATIONS.
new text end

new text begin Subdivision 1. new text end

new text begin Required examinations. new text end

new text begin A grain buyer is subject to a grain inventory
examination each year for the purpose of determining whether the grain buyer maintains
sufficient grain, rights in grain, and other liquid assets to satisfy the requirements established
in this chapter.
new text end

new text begin Subd. 2. new text end

new text begin Examiner; elements. new text end

new text begin The examination may be performed by the commissioner
or an independent third party approved by the commissioner and qualified to do a physical
grain measure up or weigh up. The examination must include an accounting of all outstanding
warehouse receipts, grain bank receipts, voluntary extension of credit contracts, and other
evidence of grain and payment obligations, as well as any additional information required
by the commissioner, including but not limited to the information required of grain warehouse
operators under Minnesota Rules, part 1562.1100, subpart 5.
new text end