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, […]
Section 69-262 – PROOF OF CLAIMS — PROCEDURE — HEARING — INSPECTION OF WAREHOUSE.
69-262. PROOF OF CLAIMS — PROCEDURE — HEARING — INSPECTION OF WAREHOUSE. In the event a warehouse or dealer fails, as defined in section 69-202(8), Idaho Code, the department shall process the claims of producers who have paid or owe assessments as required by this chapter. Claims against a failed warehouse or dealer shall include […]
Section 69-244 – LICENSE REISSUANCE FOLLOWING REVOCATION.
69-244. LICENSE REISSUANCE FOLLOWING REVOCATION. A warehouse 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 proper application for a license following three (3) years from the date of revocation, the department shall hold a hearing within […]
Section 69-263 – FAILURE TO FILE — LOSS OF CLAIM ON FUND.
69-263. FAILURE TO FILE — LOSS OF CLAIM ON FUND. If a producer, after notification, refuses or neglects to file in the office of the director his verified claim against a warehouseman or dealer as requested by the director within ninety (90) days from the date of the notice, the director shall thereupon be relieved […]