203.1 Definitions. As used in this chapter, unless the context otherwise requires: 1. “Bond” means a bond issued by a surety company or an irrevocable letter of credit issued by a financial institution described in subsection 7. 2. “Check” means a paper instrument used for ordering, instructing, or authorizing a financial institution to make payment […]
203.10 Action affecting a license. 1. The cessation of a grain dealer’s license occurs from any of the following: a. The revocation of the license by the department as provided in subsection 2. b. The cancellation of the license as provided in section 203.5. c. The expiration of the license according to the terms of […]
203.11 Penalties — injunctions. 1. A person who knowingly submits false information to or knowingly withholds information from the department or any of its employees when required to be submitted or maintained under this chapter, commits a fraudulent practice. 2. a. Except as provided in paragraph “b”, a person commits a serious misdemeanor if the […]
203.11A Civil penalties. 1. The department shall establish, by rule, civil penalties which may be administratively or judicially assessed against a grain dealer for a violation of this chapter. 2. The amount of a civil penalty shall not exceed one thousand five hundred dollars. Each day that a violation continues shall constitute a separate violation. […]
203.11B Grain industry peer review panel. 1. The department shall establish a grain industry peer review panel to assist the department in assessing civil penalties pursuant to this section and section 203C.36A. The secretary of agriculture shall appoint to the panel the following members: a. Two natural persons who are grain dealers licensed under this […]
203.12 Claims — cessation of a license and notice of license revocation. 1. Upon the cessation of a grain dealer license by revocation, cancellation, or expiration, any claim for the purchase price of grain against the grain dealer shall be made in writing and filed with the grain dealer and with the issuer of a […]
203.12A Lien on grain dealer assets. 1. a. As used in this section: (1) “Grain dealer assets” includes proceeds received or due a grain dealer upon the sale, including exchange, collection, or other disposition, of grain sold by the grain dealer. “Grain dealer assets” also includes any other funds or property of the grain dealer […]
203.12B Appointment of department as receiver. 1. As used in this section: a. “Grain dealer assets” means the same as defined in section 203.12A, including any proceeds from a deficiency bond or irrevocable letter of credit, or any insurance policy relating to those assets. b. “Interested seller” means a person who delivers or has delivered […]
203.13 Enforcement officers. Repealed by 2003 Acts, ch 69, §21 .
203.14 No obligation of state. Nothing in this chapter shall be construed to imply any guarantee or obligation on the part of the state of Iowa, or any of its agencies, employees or officials, either elective or appointive, in respect to any agreement or undertaking to which the provisions of this chapter relate. [C79, 81, […]
203.15 Credit-sale contracts. A grain dealer shall not purchase grain by a credit-sale contract except as provided in this section. 1. The grain dealer shall be licensed pursuant to section 203.3. All of the following shall apply to a grain dealer required to be licensed under that section who purchases grain by credit-sale contract: a. […]
203.16 Confidentiality of records. Notwithstanding chapter 22, all financial statements of grain dealers under this chapter shall be kept confidential by the department and its agents and employees and are not subject to disclosure except as follows: 1. Upon waiver by the licensee. 2. In actions or administrative proceedings commenced under this chapter or chapter […]
203.17 Documents and records. 1. The department may adopt rules specifying the form, content, use, and maintenance of documents issued by a grain dealer under this chapter including but not limited to scale tickets, settlement sheets, daily position records, and credit-sale contracts. The department may adopt rules for both printed and electronic documents, including rules […]
203.19 Cooperative agreements. 1. Notwithstanding the other provisions of this chapter, the department may enter into cooperative agreements with other states for the purpose of making available to those states the information acquired under the bonding, licensing, and examination procedures of this chapter. 2. If a cooperative agreement is in effect under this section, the […]
203.2 Powers and duties of the department. The department may exercise general supervision over the business operations of grain dealers. The supervisory and regulatory powers authorized by this chapter shall be the responsibility of the warehouse bureau of the department. The department may inspect or cause to be inspected any grain dealer operating in this […]
203.20 Shrinkage adjustments — disclosures — penalties. 1. A person who, in connection with the receipt of corn or soybeans for storage, processing, or sale, adjusts the scale weight of the grain to compensate for the moisture content of the grain shall compute the amount of the adjustment by multiplying the scale weight of the […]
203.22 Prioritization of inspections of grain dealers. The department shall develop a system to prioritize the inspections of grain dealers provided in section 203.9. The system of prioritization shall be computed each year based on the risk of loss to the grain depositors and sellers indemnity fund caused by the possible insolvency of the grain […]
203.2A Grain purchasers who are not licensed grain dealers — special notice requirements. 1. This section applies to a person who is not required to be issued a license as a grain dealer pursuant to section 203.3. The person shall not purchase grain from a producer for purposes of resale, milling, feeding, or processing. 2. […]
203.3 License required — financial responsibility. 1. A person shall not engage in the business of a grain dealer in this state without having obtained a license issued by the department. 2. The type of license required shall be determined as follows: a. A class 1 license is required if the grain dealer purchases any […]
203.4 Participation in indemnity fund required. A grain dealer licensed or required to be licensed pursuant to section 203.3 shall participate in and comply with the grain depositors and sellers indemnity fund provided in chapter 203D. [C75, 77, 79, 81, §542.4; 81 Acts, ch 180, §5] 86 Acts, ch 1006, §2; 86 Acts, ch 1152, […]
