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Title XXVI TRADE AND COMMERCE

Chapter 411

previous next Effective - 22 Apr 1986, see footnotebottom

  411.285.  Procedure after license is revoked — injunction to sell or remove grain, hearing, notice. — 1.  When a license is revoked, the warehouseman shall terminate, in a manner prescribed by the director, all arrangements covering the storing of grain in the warehouse covered by the license, but shall be permitted, under the supervision of the director, to deliver or purchase grain previously received.

  2.  In terminating arrangements regarding the storing of grain, the warehouseman shall prepare and send a notice, in a form approved by the director, to all depositors.  The notice shall set forth the fact of termination and provide for a schedule of deliveries.

  3.  When a license is revoked, the director shall notify each depositor or holder of an outstanding warehouse receipt of the revocation.  The director shall further notify each depositor or receipt holder that his grain must be sold or removed from the warehouse.  The notice shall be by ordinary mail sent to the last known address of each receipt holder.  Upon receipt of the notice, it shall be the legal duty imposed hereby of each depositor or receipt holder to so sell, or remove or cause to be removed his grain from the warehouse forthwith.

  4.  When a warehouseman's license is revoked pursuant to this section, the director may apply to the circuit court for a mandatory injunction ordering depositors to sell, remove or cause to be removed their grain from the warehouse and the circuit courts are hereby empowered to enter such an order.  A hearing shall be held within ten days of the filing of any such petition.  Notice of hearing to depositors, receipt holders, warehouseman, surety, all interested persons and the director shall be by any practicable means effecting actual notice.  Further, the circuit courts are empowered to enter any order pertaining to the warehouseman, director, depositors, receipt holders, surety, or other interested persons that is appropriate in the circumstances to effectuate such removal or sale consistent with the purpose of this chapter.  The court may enforce any order entered pursuant to this section by its contempt powers or as otherwise provided by law.

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(L. 1977 S.B. 75 § 9, A.L. 1986 H.B. 1578)

Effective 4-22-86


---- end of effective   22 Apr 1986 ----

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