§ 43-32-210. Compensation of Claimants
Within ninety (90) days of the commissioner’s approval of a valid claim, the department shall, in accordance with this section, compensate from the Tennessee grain indemnity fund any claimant who has incurred a financial loss due to a failure of a commodity dealer or warehouseman. Any claimant who has incurred a financial loss due to […]
§ 43-32-211. Commission — Duties
The commissioner, upon determining that a commodity dealer or warehouseman has defaulted payment or failed, has the duty under this part, in addition to any other duties granted to the commissioner by law, to: Request the transfer of moneys from the Tennessee grain indemnity fund when necessary for the purpose of compensating claimants in accordance […]
§ 43-32-212. Department of Agriculture — Duties
The department has the duty under this chapter to: Collect and deposit all fees and assessments authorized under this part into the Tennessee grain indemnity fund for investment by the fund; Transfer, at the discretion of the commissioner, any moneys from the department to the Tennessee grain indemnity fund for investment; Subrogate all the rights […]
§ 43-32-213. Rules
In accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, the commissioner shall promulgate such rules as may be necessary to effectively and efficiently administer and enforce this chapter.
§ 43-32-206. Assessments — Notice — Refunds — Applicability
Upon an affirmative vote in the referendum, the commissioner shall notify forthwith by certified mail all persons in this state engaged in the business of purchasing commodities from producers, except for purchasers who are incidental grain dealers, unsecured, that on and after the date specified in the letter, the assessment specified in § 43-32-202 shall […]
§ 43-32-207. Assessment — Suspension — Reinstatement
The assessment shall continue on grain until the Tennessee grain indemnity fund is more than three million dollars ($3,000,000). If and when the fund is more than three million dollars ($3,000,000), the commissioner shall temporarily suspend the assessment. At such time the amount in the fund drops below three million dollars ($3,000,000), the commissioner may […]
§ 43-32-208. Assessments — Collection — Fund Management
All assessments collected by the department pursuant to this part shall be in a separate fund and shall be used solely to carry out the purposes of this chapter. These funds may be invested and reinvested at the discretion of the state treasurer, and the interest from these investments shall be deposited to the credit […]
§ 43-32-209. Access to Reserve Funds
In the event that the amount in the Tennessee grain indemnity fund is insufficient to pay the approved claims from that fund, the commissioner of agriculture, with the approval of the commissioner of finance and administration and the appropriate standing committees of the general assembly, shall have access to the revenue fluctuation reserve fund for […]
§ 43-32-109. Violations — Penalties
With the exception of incidental commodity dealers, nonsecured, failure of a commodity dealer or warehouseman to file a bond or certificate of deposit and to keep the bond or certificate of deposit in force or to maintain assets adequate to assure payment to producers for commodities purchased from or stored for them shall be grounds […]
§ 43-32-110. Use of Price Later Contracts — Rules and Regulations
The commissioner may regulate the use of price later contracts by the promulgation of any rule or regulation the commissioner may deem necessary.