Source: https://www.revisor.mn.gov/statutes/2009/cite/223/full
Timestamp: 2019-11-20 23:34:20
Document Index: 773390734

Matched Legal Cases: ['art 14', 'art 11', 'art 3', 'art 2', 'art 3', 'art 2', 'art 1', 'art 2']

﻿ Ch. 223 MN Statutes
223.18 PENALTY.
Sections 223.15 to 223.19 may be cited as the Grain Buyers Act.
Subd. 7.Independent grain buyer.
"Independent grain buyer" means a person without a private or public grain warehouse license who is licensed to engage in the business of purchasing grain for resale.
"Public grain warehouse operator" means a person operating a grain warehouse in which grain belonging to persons other than the grain warehouse operator is accepted for storage or purchase or who offers grain storage or warehouse facilities to the public for hire.
1982 c 635 s 3; 1983 c 374 s 1-7,20; 1986 c 444; 1988 c 688 art 14 s 1; 2000 c 477 s 60; 2002 c 373 s 31; 2004 c 254 s 27,28
A license must be renewed annually. Beginning July 1, 1984, the commissioner may stagger the renewal dates of licenses issued under this chapter, subject to the policy expressed in section 116J.69, subdivision 2, paragraph (d). If a person receives more than one license from the commissioner, the licenses shall be issued at the same time, but only after all conditions for each license are met. Multiple licenses should be combined into one license if possible.
Before a grain buyer's license is issued, the applicant for the license must file with the commissioner a bond in a penal sum prescribed by the commissioner but not less than the following amounts:
(a) $10,000 for grain buyers whose gross annual purchases are $100,000 or less;
(b) $20,000 for grain buyers whose gross annual purchases are more than $100,000 but not more than $750,000;
(c) $30,000 for grain buyers whose gross annual purchases are more than $750,000 but not more than $1,500,000;
(d) $40,000 for grain buyers whose gross annual purchases are more than $1,500,000 but not more than $3,000,000;
(e) $50,000 for grain buyers whose gross annual purchases are more than $3,000,000 but not more than $6,000,000;
(f) $70,000 for grain buyers whose gross annual purchases are more than $6,000,000 but not more than $12,000,000;
(g) $125,000 for grain buyers whose gross annual purchases are more than $12,000,000 but not more than $24,000,000; and
(h) $150,000 for grain buyers whose gross annual purchases exceed $24,000,000.
A grain buyer who has filed a bond with the commissioner prior to July 1, 2004, is not required to increase the amount of the bond to comply with this section until July 1, 2005. The commissioner may postpone an increase in the amount of the bond until July 1, 2006, if a licensee demonstrates that the increase will impose undue financial hardship on the licensee, and that producers will not be harmed as a result of the postponement. The commissioner may impose other restrictions on a licensee whose bond increase has been postponed. The amount of the bond shall be based on the most recent financial statement of the grain buyer filed under subdivision 6.
A first-time applicant for a grain buyer's license shall file a $50,000 bond with the commissioner. This bond shall remain in effect for the first year of the license. Thereafter, the licensee shall comply with the applicable bonding requirements contained in clauses (a) to (h).
In lieu of the bond required by this subdivision the applicant may deposit with the commissioner of management and budget cash, a certified check, a cashier's check, a postal, bank, or express money order, assignable bonds or notes of the United States, or an assignment of a bank savings account or investment certificate or an irrevocable bank letter of credit as defined in section 336.5-102, in the same amount as would be required for a bond.
(b) The financial statement shall be accompanied by a compilation report of the financial statement that is prepared by a grain commission firm or a management firm approved by the commissioner or by an independent public accountant, in accordance with standards established by the American Institute of Certified Public Accountants. Grain buyers purchasing less than 150,000 bushels of grain per calendar year may submit a financial statement prepared by a public accountant who is not an employee or a relative within the third degree of kindred according to civil law.
Subd. 7.Producer bond and contract claims.
If the commissioner finds, after an investigation is conducted, that a complaint is valid or that a licensee is in violation of the provisions of this chapter, the commissioner may immediately suspend the license, in which case the licensee shall surrender the license to the commissioner. Within 15 days, the licensee may request an administrative hearing subject to chapter 14 to determine whether the license should be revoked. If no request is made within 15 days, the commissioner shall revoke the license.
1982 c 424 s 130; 1982 c 635 s 4; 1983 c 374 s 8,20; 1985 c 233 s 5; 1986 c 444; 1987 c 396 art 11 s 15; 1996 c 305 art 3 s 28; 1997 c 11 art 2 s 9; 1997 c 216 s 126; 1999 c 231 s 169; 1999 c 250 art 3 s 24; 2000 c 477 s 61; 1Sp2001 c 2 s 142; 2003 c 112 art 2 s 50; 2004 c 254 s 29,30; 1Sp2005 c 1 art 1 s 84,85; 2006 c 265 s 3; 2009 c 101 art 2 s 109
A person buying grain without first obtaining a grain buyer's license is guilty of a misdemeanor. Each day of operation without a grain buyer's license constitutes a separate offense. In case of license revocation, no new license shall be granted to the person whose license was revoked nor to anyone either directly or indirectly engaged with the person in the licensed business for two years. A grain dealer who withholds records from the commissioner, keeps or files records knowing them to be false, alters records fraudulently, or presents records to the commissioner knowing them to be false, is guilty of a gross misdemeanor.
1982 c 635 s 5; 1983 c 374 s 11,20; 1986 c 444