2005 Minnesota Statutes

     236.05 Duties of grain bank operator. 

    Subdivision 1.    Insurance.  The operator of the grain 
 bank shall keep all stored grain insured against loss by fire, 
 windstorm, and extended coverage risks for the account of the 
 owner and furnish the department with the evidence it requires 
 that the insurance is in force.  

    Subd. 2.    Receipt and storage of grain.  The grain 
 bank operator shall determine the quantities, kinds, and grades 
 of grain to be received from a depositor, and grain equal to the 
 grade shown on the receipt to be due the owner of the grain on 
 redelivery must be used in the delivery back to the owner.  
 Commingling of like kinds of grain and the addition to the grain 
 of materials used in the lawful formulation of mixed feeds are 
 permitted as required by the depositor of the grain.  If, 
 through no fault of the grain bank operator, redelivery of grain 
 equal to the grade shown on the receipt cannot be made, then 
 redelivery to the owner of a lesser grade may be made if the 
 operator pays to the owner in money the difference in market 
 value between the two grades.  

    Subd. 3.    Deliveries of processed feeds.  Deliveries 
 of mixed or otherwise processed feeds formulated from grain bank 
 stocks must be at intervals of time and in quantities that are 
 mutually agreeable to the grain owner and the grain bank 
 operator.  

    Subd. 4.    Separate records.  The operator of a grain 
 bank shall keep separate records for each customer of the 
 balances that remain between the grain bank operator and the 
 owner of grain who has deposited grain in the grain bank, 
 including but not limited to the charges made under section 
 236.04 and the figures that support all balances shown.  

    Subd. 5.    Grain on hand.  The operator of the grain 
 bank shall keep on hand at all times grain sufficient to cover 
 all outstanding storage receipts and outstanding grain bank 
 receipts balances.  

    HIST: 1961 c 232 s 5; 1971 c 25 s 67; 1989 c 197 art 6 s 1