Section 69-267 – CLAIM AGAINST WAREHOUSEMAN OR DEALER — DIRECTOR’S REMEDIES.
69-267. CLAIM AGAINST WAREHOUSEMAN OR DEALER — DIRECTOR’S REMEDIES. The department may deny, suspend, or revoke the license of any warehouseman or dealer against whom a claim has been made, approved, and paid from the commodity indemnity fund. Proceedings for the denial, suspension, or revocation shall be subject to the provisions of title 67, chapter […]
Section 69-251 – PAYMENT OF PURCHASE PRICE.
69-251. PAYMENT OF PURCHASE PRICE. A warehouseman shall pay to the depositor the purchase price for agricultural commodities upon deposit or demand by the depositor, but not later than thirty (30) days after deposit unless otherwise agreed by the parties in writing. As used in this section, "payment" means the actual payment or tender of […]
Section 69-255 – SHORT TITLE — INDEMNITY FUND PROGRAM.
69-255. SHORT TITLE — INDEMNITY FUND PROGRAM. (1) The provisions of this section and sections 69-256 through 69-267, Idaho Code, together with any definitions in this chapter, constitute the "Commodity Indemnity Fund Program." (2) The commodity indemnity fund program shall apply to entities governed by this chapter or governed by the provisions of the commodity […]
Section 69-256 – CREATION OF INDEMNITY FUND — USES.
69-256. CREATION OF INDEMNITY FUND — USES. (1) There is hereby established within the dedicated fund a fund to be known as the commodity indemnity fund. The commodity indemnity fund shall consist of assessments remitted by producers pursuant to the provisions of this chapter and any interest or earnings on the fund balance. (2) All […]
Section 69-257 – ASSESSMENT — RATE — MINIMUM AND MAXIMUM ASSESSMENT.
69-257. ASSESSMENT — RATE — MINIMUM AND MAXIMUM ASSESSMENT. (1) Every producer shall pay an assessment to the department for deposit in the commodity indemnity fund according to the provisions of this chapter and rules promulgated by the department to implement the provisions of this chapter. (2) Except as provided in this subsection, the rate […]
Section 69-258 – COLLECTION AND REMITTANCE OF ASSESSMENTS — PRINCIPAL AMOUNT HELD IN TRUST — INTEREST EARNED — FAILURE TO COLLECT OR REMIT ASSESSMENTS CONSTITUTES A VIOLATION — INTEREST AND PENALTIES FOR UNPAID ASSESSMENTS.
69-258. COLLECTION AND REMITTANCE OF ASSESSMENTS — PRINCIPAL AMOUNT HELD IN TRUST — INTEREST EARNED — FAILURE TO COLLECT OR REMIT ASSESSMENTS CONSTITUTES A VIOLATION — INTEREST AND PENALTIES FOR UNPAID ASSESSMENTS. (1) The department shall promulgate rules to provide a procedure for the collection and remittance of the producer’s assessments. Any warehouseman or dealer […]
Section 69-259 – FUNDING AND LIMITS OF FUND.
69-259. FUNDING AND LIMITS OF FUND. The maximum amount of the commodity indemnity fund shall be maintained between ten million dollars ($10,000,000) and twelve million dollars ($12,000,000). History: [69-259, added 1988, ch. 350, sec. 2, p. 1037; am. 1989, ch. 320, sec. 4, p. 829; am. 2001, ch. 304, sec. 12, p. 1109; am. 2002, […]
Section 69-260 – FINANCIAL DIFFICULTIES — ADDITIONAL BOND OR SECURITY REQUIRED.
69-260. FINANCIAL DIFFICULTIES — ADDITIONAL BOND OR SECURITY REQUIRED. The department may, when it has reason to believe that a licensee does not have the ability to pay producers for commodities purchased, or when it determines that the licensee does not have a sufficient net worth to outstanding financial obligations ratio, require from the licensee […]
Section 69-261 – ADVISORY COMMITTEE — TERMS — COMPENSATION.
69-261. ADVISORY COMMITTEE — TERMS — COMPENSATION. (1) There is hereby created a commodity indemnity fund advisory committee consisting of nine (9) members to be appointed by the director. Appointments shall be for up to three (3) year terms, each term ending on the same day of the same month as did the term preceding […]
Section 69-243 – DUTY TO PROSECUTE.
69-243. DUTY TO PROSECUTE. It shall be the duty of each prosecuting attorney to whom any violation is reported by the department to cause appropriate proceedings to be instituted and prosecuted without delay in a court of competent jurisdiction. History: [69-243, added 1982, ch. 25, sec. 33, p. 48; am. 2002, ch. 259, sec. 31, […]