Iowa Admin. Code r. 21-90.11

Current through Regsiter Vol. 46, No. 26, June 12, 2024

Rule 21-90.11 - Notice to the warehouse bureau

(1) The licensee shall notify the bureau prior to:

a. Change of ownership of a warehouse.

b. Change in name or business address of a warehouse or warehouse operator

c. The use of additional storage facilities which are not covered under the warehouse operator license.

d. The use of any facility under the warehouse operator license for storage of a product other than that for which it is licensed.

e. The changing of the licensee's fiscal year.

f. Using any bin or facility which has had a structural change.

g. The ceasing of operations.

(2) The licensee shall notify the bureau within 24 hours after the licensee knows or should have known any of the following:

a. Loss or damage to stored products or to licensed storage facilities;

b. Licensee's net worth falling below the amount required by Iowa Code section 203C.6 and if the amount of the deficiency is not covered by a net worth deficiency bond as required by Iowa Code section 203C.6; or

c. Any quality or quantity deficiency of grain.

(3) The licensee shall notify the bureau within ten days after the licensee knows or should have known any of the following:

a. Termination of a lease on storage facilities, or the leasing of a facility under license to any other person;

b. The death of an individual or any member of a partnership operating a warehouse; or

c. Any change in management.

This rule is intended to implement Iowa Code sections 203C.2, 203C.6, 203C.8 and 203C.9.

Iowa Admin. Code r. 21-90.11

ARC 9388B, lAB 2/23/11, effective 3/30/11