Section 824 IAC 2-13-2 - Price later contractsAuthority: IC 26-3-7-3
Affected: IC 26-3-7-2
Sec. 2.
(a) Only grain buyer and buyer-warehouse licensees are entitled to purchase grain from producers under price later contracts, also known as deferred pricing or DP contracts.(b) In addition to the minimum contract requirements in section 1 of this rule, price later contracts shall also include the following: (1) A statements sic., statement printed in bold letters: "NOT STORAGE-TITLE TO THE GRAIN PASSES TO BUYER UPON DELIVERY".(c) A buyer-warehouse licensee shall not issue a collateral warehouse receipt on grain purchased by a price later contract until the full purchase price has been paid to the producer by that licensee.Indiana Grain Buyers and Warehouse Licensing Agency; 824 IAC 2-13-2; filed Jan 19, 2001, 3:04 p.m.: 24 IR 1663; readopted filed Nov 16, 2007, 2:00 p.m.: 20071212-IR-824070667RFA; readopted filed November 27, 2013, 1:30 p.m.: 20131225-IR-824130492RFAReadopted filed 11/1/2019, 10:20 a.m.: 20191127-IR-824190178RFA