Section 22-5127 – MINIMUM BALANCE FOR CLAIMS — TERMINATION OF LIABILITY.
22-5127. MINIMUM BALANCE FOR CLAIMS — TERMINATION OF LIABILITY. No claims of producers shall be paid when the balance in the seed indemnity fund is reduced to two hundred fifty thousand dollars ($250,000). If the director cannot fully pay producers’ claims without exceeding the minimum balance, he shall pay claims pro rata until the seed […]
Section 22-5128 – PAYMENT FROM FUND — DEBT OF SEED BUYER OR SURETY — REIMBURSEMENT — ACCRUAL OF CAUSE OF ACTION.
22-5128. PAYMENT FROM FUND — DEBT OF SEED BUYER OR SURETY — REIMBURSEMENT — ACCRUAL OF CAUSE OF ACTION. Amounts paid from the seed indemnity fund in satisfaction of any approved claims shall constitute a debt and obligation of the seed buyer against whom the claim was made and its surety. The director may bring […]
Section 22-5113 – NOTICE OF NONCOMPLIANCE — REQUIREMENTS — FAILURE TO COMPLY — REMEDIES OF DEPARTMENT.
22-5113. NOTICE OF NONCOMPLIANCE — REQUIREMENTS — FAILURE TO COMPLY — REMEDIES OF DEPARTMENT. (1) Whenever a seed buyer is not meeting its obligations to producers, does not have the ability to pay producers, or refuses to submit records and papers to lawful inspection, the department shall give written notice to the seed buyer and […]
Section 22-5114 – INSURANCE — CANCELLATION PROCEDURE — SUSPENSION OF LICENSE — SELF-INSURANCE.
22-5114. INSURANCE — CANCELLATION PROCEDURE — SUSPENSION OF LICENSE — SELF-INSURANCE. (1) Every seed buyer who has a seed facility where seed crops are stored for withdrawal or transferred, shall maintain a "commercial property policy" of insurance, or its equivalent, issued by a company qualified to do business in the state in which the facility […]
Section 22-5115 – LICENSE REISSUANCE FOLLOWING REVOCATION.
22-5115. LICENSE REISSUANCE FOLLOWING REVOCATION. A seed buyer license shall not be issued to any person whose license has been revoked within a period of three (3) years from the date of such revocation. Upon application for a license following revocation, the department shall hold a hearing within thirty (30) days from receipt of the […]
Section 22-5116 – DEPARTMENT’S AUTHORITY.
22-5116. DEPARTMENT’S AUTHORITY. The department may, whenever it has reason to believe the provisions of this chapter have been violated or upon verified complaint of any person in writing, investigate the actions of any seed buyer, and if it finds cause to do so, file before the director, a complaint pursuant to chapter 52, title […]
Section 22-5101 – SHORT TITLE OF ACT.
22-5101. SHORT TITLE OF ACT. This act shall be known as the "Seed Indemnity Fund Law." History: [22-5101, added 2002, ch. 256, sec. 1, p. 736.]
Section 22-5117 – LICENSE DENIAL.
22-5117. LICENSE DENIAL. (1) Any seed buyer against whose bond a claim has been ordered collected or has actually been collected shall not be licensed by the department for a period of three (3) years from the date of such order or collection. License denial may be waived if the person can show, to the […]
Section 22-5102 – DEFINITIONS.
22-5102. DEFINITIONS. As used in this chapter: (1) "Contract" means an agreement which may include, but is not limited to, those contracts commonly referred to as production, credit sale, bailment, deferred payment, deferred or price later contracts. (2) "Delivery voucher" means a form, other than a receipt or scale weight ticket, authorized by rules of […]
Section 22-5103 – LICENSES.
22-5103. LICENSES. (1) Prior to beginning operation, a person intending to operate as a seed buyer shall first procure a license from the department. Each license issued pursuant to this chapter shall be issued for a period of one (1) year and the license or legible copy thereof shall be prominently displayed in each place […]