reglab/housing_qa huggingface dataset:
IN Code § 26-3-7-9 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-9. Bond, Cash Deposit, or Letter of Credit

Sec. 9. (a) Each applicant for a license under this chapter shall, as a condition of licensure, file or have on file with the director:(1) a cash deposit;(2) an irrevocable letter of credit;(3) a bond; or(4) any combination of the above;as provided in section 10 of this chapter.(b) A bond filed under this chapter shall:(1) be conditioned upon the faithful performance of all obligations of the licensee under this chapter and the rules adopted under this chapter from the effective date of the bond until the earlier of the date the license is revoked or the bond is canceled as provided in this chapter; and(2) be further conditioned upon the faithful performance of all obligations from the effective date of the bond and thereafter, regardless of whether the licensee's facility or facilities exist on the effective date of the bond or are thereafter assumed prior to the date the licensee's license is revoked or the bond is canceled as provided in this chapter.(c) The bond must remain in effect during a violation, a temporary suspension of the licensee's license, or a period during which the licensee is subject to a cease and desist order.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.6; Acts 1975, P.L.277, SEC.6. As amended by Acts 1979, P.L.249, SEC.5; Acts 1982, P.L.155, SEC.8; P.L.191-1991, SEC.6; P.L.125-1997, SEC.28; P.L.173-1999, SEC.5.
IN Code § 26-3-7-12 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-12. Insurance; Filing of Certificate; Settlement With Depositor in Case of Destruction

Sec. 12. (a) Each applicant for a license under this chapter shall, as a condition to the granting of the license, file or have on file a certificate of insurance evidencing an effective policy of insurance issued by an insurance company authorized to do business in Indiana insuring in the name of the applicant all grain that is or may be in the licensee's facilities for its full market value against loss by fire, internal explosion, lightning, and windstorm.(b) In case fire, internal explosion, lightning, or wind-storm destroys or damages any grain in a licensed facility, the licensee shall, upon demand by the depositor and upon being presented with the receipt or other evidence of ownership, make settlement, after deducting the licensee's charges and advances, at the market value of the grain based on the value at the average price paid for grain of the same grade and quality on the date of the loss at the location of the facility. If a settlement is not made within sixty (60) days from the date of demand, the depositor is entitled to seek recovery from the insurance company.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1975, P.L.277, SEC.8. As amended by P.L.125-1997, SEC.30.
IN Code § 26-3-7-13 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-13. Additional Bond, Cash Deposit, Letter of Credit, or Insurance

Sec. 13. Whenever the director determines that a previously approved bond, letter of credit, cash deposit, or previously approved insurance is insufficient, the director shall require an additional bond, letter of credit, cash deposit, or insurance to be given by the licensee in the form and upon the terms and conditions required by this chapter and rules adopted under this chapter.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.8; Acts 1975, P.L.277, SEC.9. As amended by Acts 1979, P.L.249, SEC.7; P.L.125-1997, SEC.31.
IN Code § 26-3-7-14 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-14. Cancellation of Bond or Insurance; Approval; Notice; Suspension of License

Sec. 14. (a) A licensee may not cancel an approved bond or approved insurance unless the director has given prior written approval for the cancellation and has received a substitute cash deposit or has approved a substitute bond or insurance. The surety on a bond may cancel a bond required by this chapter only after the expiration of ninety (90) days from the date the surety mailed a notice of intent to cancel, by registered or certified mail, to the director. An insurance company may cancel insurance required by this chapter only after the expiration of a thirty (30) day period from the mailing, by certified mail, of notice of intent to cancel, to the director. The surety and the insurance company shall, at the time of giving notice to the director, send a copy of the notice to the licensee.(b) Notwithstanding any other provision of this chapter, the license of a licensee shall automatically be suspended for failure to:(1) file a new bond, letter of credit, or cash deposit within the ninety (90) day period as provided in this section;(2) file new evidence of insurance within the thirty (30) day period as provided in this section; or(3) maintain at all times a bond or cash deposit and insurance as provided in this chapter.The suspension shall continue until the licensee complies with the bonding and insurance requirements of this chapter.Formerly: Acts 1973, P.L.268, SEC.1. As amended by Acts 1979, P.L.249, SEC.8; P.L.125-1997, SEC.32.
IN Code § 26-3-7-15 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-15. Grain Inventories; Sufficiency for Outstanding Warehouse Receipts or Other Storage Obligations

Sec. 15. (a) A licensee shall maintain inventories of sufficient quantity and grade of grain to meet the licensee's storage obligations.(b) Inventories representing grain evidenced by outstanding warehouse receipts shall be maintained in the warehouse shown on the warehouse receipt issued by the warehouse in which the grain was originally deposited.(c) Inventories representing storage obligations other than those evidenced by warehouse receipts may be represented by:(1) receipts for grain stored in a facility licensed under this chapter;(2) receipts in a warehouse licensed and bonded under the warehouse act; or(3) other warehouse receipts or tickets as approved by the director.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.9. As amended by Acts 1979, P.L.249, SEC.9; P.L.125-1997, SEC.33.
IN Code § 26-3-7-16 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-16. Maintenance of Minimum Net Worth

Sec. 16. (a) A licensee shall have and maintain a current asset to current liability ratio of one to one (1:1) and shall maintain, as evidenced by the financial statement required by section 6 of this chapter, the following minimum positive net worth:(1) For a grain bank, minimum positive net worth is at least one hundred thousand dollars ($100,000).(2) For a warehouse, minimum positive net worth is at least equal to the sum of:(A) one hundred thousand dollars ($100,000); and(B) ten cents ($0.10) multiplied by the bushel storage capacity of the warehouse.(3) For a grain buyer, minimum positive net worth is:(A) one hundred thousand dollars ($100,000); or(B) five cents ($0.05) multiplied by the total number of bushels of grain purchased by the grain buyer during the grain buyer's most recent fiscal year;whichever is greater.(4) For a buyer-warehouse that has a bushel storage capacity of less than one million (1,000,000) bushels or purchases less than one million (1,000,000) bushels of grain per year, minimum positive net worth is:(A) the sum of:(i) one hundred fifty thousand dollars ($150,000); and(ii) ten cents ($0.10) multiplied by the bushel storage capacity of the buyer-warehouse; or(B) five cents ($0.05) multiplied by the total number of bushels of grain purchased by the buyer-warehouse during the buyer-warehouse's most recent fiscal year;whichever is greater.(5) For a buyer-warehouse that has a bushel storage capacity of at least one million (1,000,000) bushels or purchases at least one million (1,000,000) bushels of grain per year, minimum positive net worth is:(A) the sum of:(i) two hundred thousand dollars ($200,000); and(ii) ten cents ($0.10) multiplied by the bushel storage capacity of the buyer-warehouse; or(B) five cents ($0.05) multiplied by the total number of bushels of grain purchased by the buyer-warehouse during the buyer-warehouse's most recent fiscal year;whichever is greater.(b) Except as provided in section 10 of this chapter, if a licensee is required to show additional net worth to comply with this section, the licensee may satisfy the requirement by adding to the amount of the bond, letter of credit, or cash deposit required under section 10 of this chapter an amount equal to the additional net worth required or provide another form of surety as permitted under the rules of the agency.(c) The director may adopt rules under IC 4-22-2 to provide that a narrative market appraisal that demonstrates assets sufficient to comply with this section may satisfy the minimum positive net worth requirement.Formerly: Acts 1973, P.L.268, SEC.1. As amended by Acts 1979, P.L.249, SEC.10; P.L.125-1997, SEC.34; P.L.253-1997(ss), SEC.26; P.L.173-1999, SEC.7; P.L.64-2009, SEC.8; P.L.60-2015, SEC.11.
IN Code § 26-3-7-16.6 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-16.6. Procedures

Sec. 16.6. The procedures established by this chapter also apply when the director learns or has reason to believe that a person is doing business as a grain buyer, operating a warehouse, or acting as a buyer-warehouse without the license required by this chapter.As added by Acts 1982, P.L.155, SEC.11. Amended by P.L.191-1991, SEC.9; P.L.139-1996, SEC.10; P.L.125-1997, SEC.36; P.L.173-1999, SEC.9.
IN Code § 26-3-7-16.7 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-16.7. Appeals

Sec. 16.7. (a) A licensee or claimant subject to the director's action may appeal under IC 4-21.5-3 from orders issued by the director under section 16.5 or 17.1 of this chapter.(b) A licensee or claimant may request an appeal under IC 4-21.5-3 not more than fifteen (15) days after being served with the director's findings.(c) If a licensee or claimant requests an appeal under IC 4-21.5-3, the director shall designate:(1) an administrative law judge to preside over the appeal; and(2) an ultimate authority for purposes of the appeal in accordance with IC 4-21.5-3.As added by P.L.145-2017, SEC.7.
IN Code § 26-3-7-17.5 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-17.5. Notice of Suspension or Revocation of License; Notice of Denial of Application

Sec. 17.5. (a) Whenever the license of a licensee is suspended or revoked, the director shall:(1) for each facility operated by the licensee, publish a public notice in a newspaper of general circulation that serves the county in which the facility is located; and(2) cause notice of the suspension or revocation to be posted at the facilities covered by the license.(b) Whenever an application for licensure under this chapter is denied, the director may:(1) for each facility operated by the applicant, publish a public notice in a newspaper of general circulation that serves the county in which the facility is located; and(2) cause notice of the denial to be posted at the applicant's facilities.(c) A notice posted under this section may not be removed without the written permission of the director.(d) The director shall adopt rules under IC 4-22-2 to determine the content of the notices required by this section.As added by P.L.125-1997, SEC.39. Amended by P.L.60-2015, SEC.12.
IN Code § 26-3-7-18 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-18. Revocation, Expiration, or Suspension of License; Effect Upon Operation

Sec. 18. (a) When a license is revoked, the licensee shall terminate in the manner prescribed by the director all arrangements covering the grain in the facility covered by the license, but shall be permitted, under the direction and supervision of the director or the director's designated representative, to deliver grain previously received.(b) During any suspension of a license, the licensee may, under the direction and supervision of the director or the director's designated representative, operate the facility, but shall not incur any additional obligations to producers.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.11. As amended by Acts 1979, P.L.249, SEC.13; Acts 1982, P.L.155, SEC.12; P.L.191-1991, SEC.11; P.L.125-1997, SEC.40.
IN Code § 26-3-7-19 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-19. Receipt of Grain; Ownership of Deposited Grain

Sec. 19. (a) A licensee shall issue a receipt or ticket for grain received. Grain received by a licensee shall be credited to the depositor on the books of the licensee within seven (7) days from the date of its delivery. If a ticket is issued on delivery of the grain for storage, a receipt shall be issued on demand, but no receipt shall be issued on grain bank grain.(b) The licensee is a bailee with respect to all stored grain. The person whose name appears on a receipt or a ticket has title to the stored grain evidenced by the receipt or ticket.Formerly: Acts 1973, P.L.268, SEC.1. As amended by Acts 1979, P.L.249, SEC.14; Acts 1982, P.L.155, SEC.13; P.L.125-1997, SEC.41.
IN Code § 26-3-7-20 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-20. Grain Owned by Licensee; Receipts; Transfer

Sec. 20. A licensee may issue a receipt for grain owned by the licensee in whole or in part, located in the licensee's facility. The negotiation, transfer, sale, or pledge of the receipt shall not be defeated by reason of the licensee's ownership.Formerly: Acts 1973, P.L.268, SEC.1. As amended by P.L.3-1989, SEC.150; P.L.125-1997, SEC.42.
IN Code § 26-3-7-21 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-21. Uniform Warehouse Receipts Act; Application to Transactions

Sec. 21. Except as provided by this chapter, and regardless of whether the grain was received for storage, shipping, or handling, IC 26-3-2 applies to all transactions involving or incidental to the issuance, negotiation, transfer, sale, endorsement, or other dealings with receipts, to transactions involving delivery or other disposition of grain, and to the rights, duties, liabilities, and privileges of licensees or others dealing with licensees.Formerly: Acts 1973, P.L.268, SEC.1. As amended by Acts 1982, P.L.155, SEC.14; P.L.125-1997, SEC.43.
IN Code § 26-3-7-22 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-22. Commingling of Grain

Sec. 22. Different lots of the same type of grain delivered to a licensee may be commingled by type of grain unless the receipt or ticket states that the identity of the lot of grain is to be preserved.Formerly: Acts 1973, P.L.268, SEC.1. As amended by P.L.125-1997, SEC.44.
IN Code § 26-3-7-23 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-23. Return of Grain to Depositor

Sec. 23. Upon demand, after payment of all applicable charges, grain shall be returned to the depositor at the licensed facility where the grain was received unless agreed otherwise in writing.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.12. As amended by P.L.125-1997, SEC.45.
IN Code § 26-3-7-24 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-24. Duplicate Receipts; Restriction; Requisites; Bond

Sec. 24. While a receipt or ticket issued under this chapter is outstanding and uncancelled by the issuing licensee, no other receipt or ticket shall be issued for the grain or any part of the grain that is covered by the receipt or ticket. However, if a receipt or ticket is lost, stolen, or destroyed the owner of the receipt or ticket is entitled to a new receipt that is a duplicate of the missing receipt or a new ticket that is a substitute for the missing ticket. The duplicate receipt or substitute ticket entitles the owner to all rights appertaining to the document for which it was issued, and shall state that it is in lieu of the former receipt or ticket and give the number and date of the former receipt or ticket. If the missing document was a negotiable receipt, the issuing licensee shall require an indemnity bond of double the market value of the grain covered by the missing receipt in a form and with the surety that the director may prescribe to fully protect all rights under the missing receipt.Formerly: Acts 1973, P.L.268, SEC.1. As amended by P.L.125-1997, SEC.46.
IN Code § 26-3-7-25 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-25. Terms of Receipts

Sec. 25. Every warehouse receipt issued, whether paper or electronic, shall embody within its terms the following:(1) The type, grade, and quantity of the grain stored as established by the official grain standards of the United States, unless:(A) the identity of the grain is preserved in a special pile or special bin or otherwise; and(B) a mark identifying the preserved grain appears on the face of the receipt.(2) A statement that the receipt is issued subject to the Indiana Grain Buyers and Warehouse Licensing and Bonding Law, IC 26-3-7, and rules adopted under the Indiana Grain Buyers and Warehouse Licensing and Bonding Law.(3) A clause that reserves to the licensee the right to terminate storage and collect outstanding charges against any lot of grain that remains in storage after June 30 following the date of the receipt.(4) A clause that reserves to the licensee the right to terminate storage, shipping, and handling arrangements and collect outstanding charges upon the revocation of the licensee's license.(5) Other terms and conditions as provided in the Uniform Warehouse Receipts Acts. However, nothing contained in the Uniform Warehouse Receipts Act shall require a receipt issued for grain to specifically state the variety of the grain by name.(6) A clause that terminates storage on the date the license held by the licensee when the receipt was issued expires and reserves to the licensee the right to collect outstanding charges against any lot of grain.(7) Other provisions prescribed by the director.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.13. As amended by P.L.125-1997, SEC.47; P.L.173-1999, SEC.11.
IN Code § 26-3-7-26 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-26. Terms of Tickets

Sec. 26. Every ticket issued shall embody within its terms:(1) the name of the licensee to whom the grain was delivered;(2) the date the grain was delivered;(3) exact information concerning the type, net weight, and grade factors of the grain received;(4) a statement that the grain described in the ticket is to be taken into storage, is being delivered on contract, or is to be sold under other arrangements;(5) the name of the owner of the grain; and(6) other provisions prescribed by the director.The director may adopt rules under IC 4-22-2 to exempt certain types of grain from these requirements.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1975, P.L.277, SEC.10. As amended by Acts 1982, P.L.155, SEC.15; P.L.125-1997, SEC.48; P.L.173-1999, SEC.12.
IN Code § 26-3-7-26.5 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-26.5. Deferred Pricing Agreement; Conditions; Penalties

Sec. 26.5. (a) Beginning after July 1, 2022, a licensee may not:(1) enter into a deferred pricing agreement in connection with grain purchases that extends beyond the crop year for the delivered grain; or(2) transfer the deferred pricing agreement to a new contract beyond the crop year for the delivered grain.(b) If the deferred pricing agreement in connection with a grain purchase was entered into before July 1, 2021, the licensee shall complete the licensee's payment obligations to the seller under the agreement before January 1, 2024. The determined price date of a deferred pricing agreement shall be:(1) the determined price date set forth in the deferred pricing agreement, if that date occurs before January 1, 2024;(2) if subdivision (1) does not apply, a determined price date that is mutually agreed to by the licensee and the seller; or(3) if subdivisions (1) and (2) do not apply, the date on which the licensee completes the licensee's payment obligations to the seller.(c) If the director or director's designated representative determines that the licensee has not complied with this section, the director shall issue a notice stating that the licensee has thirty (30) days to price grain for the initial deferred pricing agreement.(d) If a licensee fails to price grain within thirty (30) days of the notice in subsection (c), the director may impose a fine on the licensee of not more than one thousand dollars ($1,000). Fines collected under this section must be deposited in the grain buyers and warehouse licensing agency license fee fund established by section 6.3 of this chapter.(e) Notwithstanding section 17.1 of this chapter, if a licensee fails to price grain within sixty (60) days of the date of the notice in subsection (c), the director may impose a fine on the licensee of not more than two thousand five hundred dollars ($2,500) per month until the licensee is in compliance with this section.As added by P.L.208-2021, SEC.6.
IN Code § 26-3-7-28 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-28. Records and Accounts; Retention

Sec. 28. A licensee shall keep in a place of safety complete and correct records and accounts pertaining to the licensee’s grain business. The licensee shall retain records and accounts for not less than six (6) years from the date of the final settlement of the transaction.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.14. As amended by P.L.125-1997, SEC.49.
IN Code § 26-3-7-29 (2021)
2021 Indiana Code|Title 26. Commercial Law|Article 3. Warehouses|Chapter 7. Indiana Grain Buyers and Warehouse Licensing and Bonding Law|26-3-7-29. Display of License or Permit; Schedule of Charges; Sign

Sec. 29. A licensee shall:(1) conspicuously display the licensee's license in the licensee's main office and at each facility included under the license;(2) conspicuously display in each operational office the approved schedule of charges for services; and(3) conspicuously display at each facility all charts and diagrams provided to the facility by the agency.Formerly: Acts 1973, P.L.268, SEC.1; Acts 1974, P.L.120, SEC.15. As amended by Acts 1982, P.L.155, SEC.17; P.L.125-1997, SEC.50.