reglab/housing_qa huggingface dataset:
MI Comp L § 285.65 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.65 - Revocation of License; Application for New License; Events; Notice of Event.

285.65 Revocation of license; application for new license; events; notice of event. Sec. 5.  (1) The department may revoke a grain dealer's license, but the grain dealer may apply for a new license, if any of the following events occur:  (a) The licensee is a party to a merger, consolidation, conversion, or similar transaction. The department may decide not to revoke the license if the successor to the licensee is licensed under this act and executes a successor's agreement acceptable to the department.  (b) Fifty percent or more of the shares, other than publicly traded shares, or other ownership interests in the licensee are sold, exchanged, or otherwise transferred. The department may decide not to revoke the license if the transferee is licensed under this act and executes a successor's agreement acceptable to the department.  (c) Fifty percent or more of the property and assets of the licensee are sold, leased, exchanged, or otherwise transferred. The department may waive this requirement if the transferee is licensed under this act and executes a successor's agreement acceptable to the department.  (d) The licensee ceases to pay its debts in the ordinary course of business, cannot pay its debts as they become due, or is insolvent under an applicable bankruptcy or insolvency law.  (e) If the grain dealer has 100 or more stockholders, members, partners, or owners, as applicable, more than 1/2 of the grain dealer's board of directors or other governing body or board are replaced with different individuals.  (f) The name of the grain dealer is changed.  (2) If an event described in subsection (1) occurs, the grain dealer shall file a notice of the event with the department within 1 business day of the event. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.65 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 1982, Act 33, Eff. Sept. 12, 1982 ;-- Am. 1996, Act 311, Imd. Eff. June 24, 1996 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003 Compiler's Notes: Section 2 of Act 33 of 1982 provides: “This amendatory act shall take effect 6 months after it has been enacted into law and shall apply only to licenses issued or renewed after the effective date.”
MI Comp L § 285.66 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.66 - Temporary Permit.

285.66 Temporary permit. Sec. 6.  (1) If a grain dealer has applied for a license but needs additional time to comply with the requirements of this act for issuance of a license, the department may issue 1 temporary permit to the applicant. A permit issued under this section expires on the expiration date set by the department, which may not be more than 30 days after the permit is issued, when a license is issued, or when the application for license is denied, whichever occurs first. The department may grant 1 extension of up to 30 days of a permit issued under this section.  (2) A grain dealer who has been granted a permit under this section has the same rights and obligations of a licensee under this act. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.66 ;-- Am. 1955, Act 179, Eff. Oct. 14, 1955 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 1982, Act 33, Eff. Sept. 12, 1982 ;-- Am. 1992, Act 238, Imd. Eff. Nov. 12, 1992 ;-- Am. 1996, Act 311, Imd. Eff. June 24, 1996 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003 Compiler's Notes: Section 2 of Act 33 of 1982 provides: “This amendatory act shall take effect 6 months after it has been enacted into law and shall apply only to licenses issued or renewed after the effective date.”
MI Comp L § 285.66a, 285.66b (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.66a, 285.66b - Repealed. 2002, Act 80, Eff. Mar. 31, 2003.

285.66a, 285.66b Repealed. 2002, Act 80, Eff. Mar. 31, 2003. Compiler's Notes: The repealed sections pertained to furnishing copies of act and failure to pay assessments.
MI Comp L § 285.67a (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.67a - Repealed. 2002, Act 80, Eff. Mar. 31, 2003.

285.67a Repealed. 2002, Act 80, Eff. Mar. 31, 2003. Compiler's Notes: The repealed section pertained to application requirements for grain dealer's license.
MI Comp L § 285.69 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.69 - Application for License or Renewal; Financial Statement.

285.69 Application for license or renewal; financial statement.Sec. 9.  (1) A grain dealer shall include with an application for a license or renewal a financial statement for the grain dealer's most recent completed fiscal year. The financial statement shall be a reviewed or audited financial statement, prepared by a certified public accountant in accordance with generally accepted accounting principles. The end of the grain dealer's most recent completed fiscal year shall be within 6 months of the expiration date of the grain dealer's current license. The financial statement shall include at least all of the following:  (a) An accountant's report, a balance sheet, an income statement, and notes and disclosures.  (b) A statement of the grain dealer's allowable net assets for purposes of section 3.  (c) A statement from the certified public accountant that he or she acknowledges that the department is relying on the financial statement in determining whether the grain dealer meets the allowable net asset requirement under section 3(3).  (2) If a financial statement described in subsection (1) discloses that the grain dealer during the preceding fiscal year had a current asset to current liability ratio of less than 1 to 1, the licensee shall include with the application a plan and timetable to increase the current asset to current liability ratio to 1 to 1 or more.  (3) If a financial statement described in subsection (1) is a financial statement of the licensee's parent corporation or a consolidated financial statement of the licensee and its parent corporation, the application shall include a declaration of liability signed by an authorized representative of the parent corporation, by which the parent corporation assumes all financial obligations incurred by the licensee during the term of the license. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.69 ;-- Am. 1963, Act 180, Eff. Sept. 6, 1963 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 1979, Act 206, Imd. Eff. Jan. 8, 1980 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003 ;-- Am. 2016, Act 263, Eff. Sept. 26, 2016
MI Comp L § 285.69a (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.69a - Repealed. 2002, Act 80, Eff. Mar. 31, 2003.

285.69a Repealed. 2002, Act 80, Eff. Mar. 31, 2003. Compiler's Notes: The repealed section pertained to price later agreements.
MI Comp L § 285.70 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.70 - Revocation or Refusal to Issue or Renew License; Hearing; Conditions.

285.70 Revocation or refusal to issue or renew license; hearing; conditions. Sec. 10.  After a hearing conducted in accordance with the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328, the department may revoke or refuse to issue or renew a license, or require a fidelity bond in an amount and on terms determined by the department, if any of the following occurred within the 5 years preceding the date of the license application:  (a) The applicant, a manager employed by the applicant, or any other individual with management responsibilities for the farm produce handling business of the applicant was a principal in a grain dealer receivership or insolvency proceeding that resulted in losses to creditors or depositors.  (b) The applicant, a manager employed by the applicant, or any other individual with management responsibilities for the farm produce handling business of the applicant pled guilty or was convicted of any felony involving fraud, conversion, or embezzlement.  (c) The applicant's license under the United States warehouse act, 39 Stat. 486, 7 U.S.C. 241 to 273, was revoked or canceled due to a violation of that act. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.70 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003
MI Comp L § 285.71 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.71 - Temporary Facility.

285.71 Temporary facility. Sec. 11.  (1) A grain dealer who uses a temporary facility shall report to the department on the daily position report required under section 15 the address and bushel capacity of the temporary facility for any period that the temporary facility is in use. The grain dealer shall provide the department with a copy of the lease agreement and bin charts, if any, for the temporary facility if the grain dealer has not previously provided them.  (2) A grain dealer using a temporary facility shall pay an additional license fee, calculated under section 8, based on the bushel capacity of the temporary facility. The grain dealer shall pay the additional license fee to the department with the position report for the first month the grain dealer uses the temporary facility. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.71 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 1979, Act 206, Imd. Eff. Jan. 8, 1980 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003
MI Comp L § 285.71a (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.71a - Repealed. 2002, Act 80, Eff. Mar. 31, 2003.

285.71a Repealed. 2002, Act 80, Eff. Mar. 31, 2003. Compiler's Notes: The repealed section pertained to acknowledgment of farm produce.
MI Comp L § 285.72 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.72 - Destruction or Damage of Farm Produce; Certificate of Insurance Required; Reimbursement to Depositors; Notice of Cancellation or Nonrenewal of Insurance.

285.72 Destruction or damage of farm produce; certificate of insurance required; reimbursement to depositors; notice of cancellation or nonrenewal of insurance. Sec. 12.  (1) A licensee shall maintain on file with the department a current certificate of insurance evidencing an effective policy of insurance issued by an insurance company authorized to do business in this state. The policy shall insure in the name of the grain dealer all farm produce in the facilities of the grain dealer for the full market value of the farm produce against loss by fire, explosion, lightning, and windstorm. In addition to any other remedy available under this act, the department may deny, revoke, or suspend a license for a violation of this subsection.  (2) If fire, explosion, lightning, or windstorm destroys or damages any farm produce in a facility operated by a licensee, and the depositor of the farm produce demands reimbursement and provides the licensee with a warehouse receipt or other evidence of ownership of the farm produce, the licensee shall reimburse the depositor of the farm produce for the market price of the farm produce minus any charges or advances to the depositor. As used in this subsection, "market price" means the average price paid for farm produce of the same type, grade, and quality on the date of the loss at the location of the facility.  (3) A grain dealer shall reimburse all depositors whose farm produce is destroyed or damaged by fire, explosion, lightning, or windstorm, within 10 days after the licensee receives payment from an insurer under a policy described in subsection (1). In addition to any other remedy available under this act, the department may deny, revoke, or suspend a license for a violation of this subsection.  (4) If the department determines that a licensee's insurance is insufficient, even if the insurance was previously acceptable to the department, the department shall require that the licensee obtain additional insurance that conforms to the requirements of this act.  (5) An insurance company may not cancel or nonrenew insurance required by this act, including insurance provided by binder, unless it sends a notice of intent to cancel or nonrenew to the department by certified or registered mail more than 15 days before the cancellation or nonrenewal of the insurance is effective. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.72 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003
MI Comp L § 285.73 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.73 - Availability of Books and Records; Confidentiality; Disclosure.

285.73 Availability of books and records; confidentiality; disclosure. Sec. 13.  (1) The director may require that a grain dealer make its books and records available for audit or inspection.  (2) Except as provided in subsection (3), financial information and daily position report information submitted to the department by an applicant or licensee for purposes of this act are confidential and are not subject to the disclosure requirements of the freedom of information act, 1976 PA 442, MCL 15.231 to 15.246, except that disclosure of financial information or daily position report information may be made in any of the following circumstances:  (a) With the written consent of the applicant or licensee.  (b) Pursuant to a court proceeding.  (c) The disclosure is made to an agent or employee of the department.  (d) The disclosure is made to an agent or employee of a state or the federal government authorized by law to see or review the information.  (3) The department may disclose information described in subsection (2) in the form of an information summary or profile, or as part of a statistical study that includes data on more than 1 grain dealer that does not identify the grain dealer to whom any specific information applies. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.73 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003
MI Comp L § 285.75 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.75 - Daily Position Report.

285.75 Daily position report. Sec. 15.  (1) A grain dealer shall keep a complete and accurate daily position report. The grain dealer shall submit the daily position report for the last business day of the preceding fiscal month to the department during the first 10 business days of the grain dealer's fiscal month.  (2) A daily position report shall include all of the following information about the grain dealer's operations, as of the last business day of the preceding fiscal month, on a form approved by the director:  (a) The quantity of each type of farm produce in inventory.  (b) The quantity of farm produce covered by outstanding warehouse receipts, open storage, and price later agreements, including price later agreements and warehouse receipts for farm produce in other grain dealers' facilities.  (c) The quantity of farm produce covered by collateral warehouse receipts.  (d) The total dollar amounts of loans against grain inventory.  (e) A description and quantity of any other farm produce obligations resulting in the grain dealer's balance position of farm produce.  (f) If a deficiency concerning price later agreements exists, the quantity of offsetting purchase commitments.  (3) If the department determines that there is a deficiency in any warehouse receipt position, the department shall notify the grain dealer and require that the grain dealer cover the shortage or furnish bond or security in an amount and on terms required by the department. If the grain dealer fails to comply, the department may seize grain assets for the benefit of claimants.  (4) If a net deficiency concerning price later agreements exists, based upon daily bid prices, the grain dealer shall cover the deficiency by placing in an escrow account cash, cash equivalents, or marketable securities equal to 80% of the deficiency and offsetting purchase commitments equal to at least 20% of the deficiency. The grain dealer shall file a copy of the escrow agreement with the department. The escrow agreement shall require that the escrow institution submit a monthly statement for the escrow account to the department.  (5) A violation of this section by a grain dealer may result in a fine or suspension or revocation of the grain dealer's license under section 22. If the violation is the intentional filing of a false daily position report, in addition to license revocation, the grain dealer is subject to the penalty described in section 23 for each violation. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.75 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003
MI Comp L § 285.76 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.76 - Records and Accounts.

285.76 Records and accounts. Sec. 16.  (1) A licensee shall keep a complete and accurate set of records and accounts of all transactions pertaining to the operation of each facility, including, but not limited to, records and accounts of all farm produce received in or withdrawn from a facility, of all unissued warehouse receipts and acknowledgment forms in the grain dealer's possession, and of all issued warehouse receipts and acknowledgment forms, copies of all contracts, and any warehouse receipts and acknowledgment forms returned to and settled by the licensee. A grain dealer shall retain a paper copy or a copy stored in electronic or other form of a warehouse receipt, acknowledgment form, or other document evidencing ownership of any farm produce or liability as a grain dealer for at least the period that the document is outstanding, and if the document has been canceled, for a period of not less than 3 years from the date of cancellation. A grain dealer shall retain any other records and the accounts for at least 7 years.  (2) A licensee shall keep its records and accounts concerning its farm produce handling business separate and distinct from the records and accounts of any other business conducted by the licensee.  (3) The department may examine the records and accounts pertaining to the grain dealer's farm produce handling business at any time during normal business hours.  (4) A grain dealer shall not intentionally maintain false or misleading books and records. A grain dealer who violates this subsection is subject to the penalty described in section 23. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.76 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003
MI Comp L § 285.77 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.77 - Notice of Intent to Discontinue Business.

285.77 Notice of intent to discontinue business. Sec. 17.  (1) If a grain dealer intends to discontinue his or her farm produce handling business at or before the expiration of his or her license, at least 30 days before the date the grain dealer intends to discontinue the business, the grain dealer shall by registered or certified mail provide notice of intent to discontinue business to the director, each person storing farm produce in a facility of the grain dealer, and each known holder of a warehouse receipt, acknowledgment form, or open storage or price later agreement issued by the grain dealer. If the holder of a warehouse receipt, acknowledgment form, or open storage or price later agreement is not known, the grain dealer shall publish the notice in a newspaper of general circulation in each county in which a facility is located.  (2) If a grain dealer has provided or published a notice of intent to discontinue business under subsection (1) and the department determines that there is sufficient farm produce to cover warehouse receipts and open storage arrangements, a depositor of farm produce under a warehouse receipt or open storage arrangement in a facility of the grain dealer may remove or direct the removal of the farm produce from the facility before the expiration of the 30-day period described in subsection (1).  (3) Within 14 days of discontinuing his or her farm produce handling business, the grain dealer shall file a list of all farm produce liabilities assumed by a purchaser of the business, or any person other than the licensee, with the department. History: Add. 2002, Act 80, Eff. Mar. 31, 2003 Compiler's Notes: Former MCL 285.77, which pertained to furnishing monthly statement to commissioner of agriculture, was repealed by Act 179 of 1955, Eff. Oct. 14, 1955.
MI Comp L § 285.78 (2021)
2021 Michigan Compiled Laws|Chapter 285 - Agriculture|Act 141 of 1939 - Grain Dealers Act (285.61 - 285.89)|Section 285.78 - Receipt of Farm Produce; Acknowledgment Form.

285.78 Receipt of farm produce; acknowledgment form. Sec. 18.  (1) A grain dealer shall acknowledge receipt of farm produce by issuing an acknowledgment form to the depositor. The depositor or his or her authorized agent must sign the acknowledgment form if it will be used as a price later agreement, and the depositor and grain dealer are not parties to a prior written agreement governing title and delivery of the farm produce. The grain dealer shall provide a copy of the acknowledgment form to the depositor at the time the farm produce is delivered to the grain dealer.  (2) An acknowledgment form must contain all of the following:  (a) The name and address of the grain dealer.  (b) The date of transfer, weight, and type of farm produce deposited.  (c) A statement that unless the parties agree to another disposition within 30 days of the delivery to the grain dealer, the farm produce transaction is a price later agreement transaction.  (3) Farm produce delivered to a grain dealer is in open storage, and the responsibilities of the grain dealer and depositor under an acknowledgment form are the same as if a nonnegotiable warehouse receipt had been issued for the farm produce, unless 1 of the following occurs:  (a) The acknowledgment form satisfies the requirements applicable to a price later agreement and is signed by the depositor and grain dealer or their authorized agents.  (b) The farm produce is sold for a set price at the time of delivery to the grain dealer or another disposition occurs.  (4) If a grain dealer obtains farm produce from a depositor and the farm produce is not being delivered to a facility of the grain dealer, the grain dealer shall issue a temporary acknowledgment form identifying the estimated quantity, type of farm produce, grain dealer's name and address, and the name of the driver of the transporting vehicle.  (5) A grain dealer shall record the disposition of the farm produce on the acknowledgment form unless he or she provides other settlement documentation referencing the acknowledgment form.  (6) If a depositor deposits farm produce at a facility in the name of another grain dealer, the grain dealer in whose name the farm produce is deposited shall issue the acknowledgment form for the farm produce.  (7) If a grain dealer's license is revoked or terminated, the grain dealer shall deliver all unused acknowledgment forms to the department. History: 1939, Act 141, Eff. Sept. 29, 1939 ;-- CL 1948, 285.78 ;-- Am. 1976, Act 259, Imd. Eff. Aug. 12, 1976 ;-- Am. 1996, Act 311, Imd. Eff. June 24, 1996 ;-- Am. 2002, Act 80, Eff. Mar. 31, 2003