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Title XVII AGRICULTURE AND ANIMALS

Chapter 276

previous next Effective - 02 Apr 1997, see footnotebottom

  276.471.  Records to be maintained by dealer — retention for inspection. — 1.  The grain dealer shall maintain at his principal place of business current and complete records with respect to all grain received and withdrawn from, purchased, sold, and held by him for that business.

  2.   Each licensed grain dealer shall keep in a place of safety, complete and correct records and accounts of:

  (1)  The quantity of each kind and class of grain received in his facility and withdrawn therefrom;

  (2)  Duplicate copy of receipts, tickets and bills of lading issued by him;

  (3)  Original receipts and tickets returned to and cancelled by him;

  (4)  A register which records all grain transactions not evidenced by the dealer's own scale ticket, i.e., direct farm-to-market shipments.  This register shall be updated daily showing, at a minimum, the name of the seller, quantity of grain, date of shipment, name of terminal or other business accepting the physical commodity, destination scale ticket number and whether the grain was delivered for sale, or other specified purpose.

  3.   In addition to the records required by subsections 1 and 2 of this section, the grain dealer shall maintain such adequate financial records as will clearly reflect his current financial position and will clearly support any financial information required to be submitted to the director for licensing, auditing, inspection and/or investigation purposes.

  4.   A grain dealer licensed or required to be licensed under this chapter shall keep available for examination all books, records and accounts required by this chapter and any other books, records and accounts relevant to his operating a grain dealer business for a period of not less than three years after the close of the period for which such books or records were required.  An examination may be performed by the director or his representative, and may take place at any time during the normal business hours of the dealer or, if prior notice of the examination is given to the grain dealer, at such time as is prescribed in that notice.

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(L. 1980 H.B. 1627 § 15, A.L. 1997 H.B. 211)

Effective 4-02-97


---- end of effective   02 Apr 1997 ----

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