26-3-7-16. Maintenance of Minimum Net Worth
Sec. 16. (a) A licensee shall have and maintain a current asset to current liability ratio of one to one (1:1) and shall maintain, as evidenced by the financial statement required by section 6 of this chapter, the following minimum positive net worth: (1) For a grain bank, minimum positive net worth is at least […]
26-3-7-16.1. Repealed
As added by Acts 1982, P.L.155, SEC.10. Repealed by P.L.125-1997, SEC.57.
26-3-7-16.5. Determination of Shortages; Payment of Claims; Hearings and Procedures
Sec. 16.5. (a) Upon learning of the possibility that a shortage exists, either as a result of an inspection or a report or complaint from a depositor, the agency, based on an on-premises inspection, shall make a preliminary determination as to whether a shortage exists. If a shortage is not discovered, the agency shall treat […]
26-3-7-16.6. Procedures
Sec. 16.6. The procedures established by this chapter also apply when the director learns or has reason to believe that a person is doing business as a grain buyer, operating a warehouse, or acting as a buyer-warehouse without the license required by this chapter. As added by Acts 1982, P.L.155, SEC.11. Amended by P.L.191-1991, SEC.9; […]
26-3-7-6.3. Grain Buyers and Warehouse Licensing Agency License Fee Fund
Sec. 6.3. (a) The grain buyers and warehouse licensing agency license fee fund is established to provide funds for the administration of this chapter. The fund shall be administered by the agency. The fund consists of: (1) the moisture testing device inspection fees collected under IC 15-11-8-3; (2) the licensing fees collected under section 6 […]
26-3-7-16.7. Appeals
Sec. 16.7. (a) A licensee or claimant subject to the director’s action may appeal under IC 4-21.5-3 from orders issued by the director under section 16.5 or 17.1 of this chapter. (b) A licensee or claimant may request an appeal under IC 4-21.5-3 not more than fifteen (15) days after being served with the director’s […]
26-3-7-6.5. Disclosure of Information; Investigations
Sec. 6.5. (a) The names, locations, respective counties, and license status of licensees may be disclosed. (b) Unless in accordance with a judicial order, the director, the agency, its counsel, auditors, or its other employees or agents shall not divulge any other information disclosed by the applications or reports filed or inspections performed under the […]
26-3-7-16.8. Liens on Grain Assets
Sec. 16.8. (a) A lien against all grain assets of a licensee or a person who is required to be licensed under this chapter attaches in favor of the following: (1) A lender or other claimant that has a receipt for grain owned or stored by the licensee. (2) A claimant that has a ticket […]
26-3-7-7. Issuance of License or Permit; False Statements; Applicant’s Qualifications
Sec. 7. (a) The director may issue or amend a license after the director has: (1) received and approved the required information and documentation; and (2) determined that: (A) the facility or facilities covered by the application are suitable for the proper storage or handling of the grain intended to be stored or handled in […]
26-3-7-17. Repealed
Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.10. Repealed by Acts 1979, P.L.249, SEC.18.