Iowa Administrative Code › Agency 21 - Agriculture and Land Stewardship Department › Chapter 91 - Licensed Grain Dealers › Rule 21-91.11 - Books and Records

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
General records. A
grain dealer shall maintain complete and
			 sufficient records to show all purchases, sales, and payments for grain
			 purchased.
(2)
Daily
			 position record.
Unless otherwise approved by the bureau, every grain
			 dealer shall keep and maintain on a daily basis a grain position record on a
			 form approved by the bureau. The daily position record shall summarize one
			 month's activity in a format approved by the bureau. The daily position record
			 shall indicate at least the increases and decreases and ending balances on a
			 daily basis for unpaid company-owned. The daily position record shall reflect
			 the obligations in the appropriate columns.
A separate daily position record shall be maintained for each
				kind and class of grain and each type of commodity that is identity-preserved.
				All daily entries to the daily position record shall reflect transactions made
				through that day's close of business unless another time of day is elected by
				the licensee and applied by the licensee on a consistent basis.
(3)
Inspection.
For the purpose of inspection, the hours of 8 a.m. to 5 p.m., except Saturday,
			 Sunday and holidays, shall be considered as ordinary business hours. All
			 financial records, grain records and payment records shall be available for
			 inspection by the bureau during ordinary business hours, and any other time
			 specified by the bureau in writing. All records shall be made available within
			 the state of Iowa upon request. Unless the bureau has been notified that the
			 records would not be available for inspection, an examination fee may be
			 assessed to the grain dealer if an examiner arrives at the licensee's location
			 and the records are not available for inspection.
(4)
Settlement sheets.
Unless the grain dealer utilizes a computer system which sequentially numbers
			 settlement sheets as generated, every grain dealer shall have prenumbered
			 settlement sheets. All settlement sheets shall show, at a minimum, the
			 following:
a. The grain dealer's name and
			 address;
b. Seller's name and
			 address;
c. Date of
			 deliveries;
d. Scale ticket
			 numbers;
e. Amount, kind and grade
			 factors of the grain; and
f.Method
			 of settlement:
(1) If priced, the price per
			 bushel, the quantity of grain priced and the date of pricing.
(2) If paid for, the date, price per bushel,
			 the quantity of grain paid for, the amount of payment and check number or
			 electronic funds transfer number.
(3) If credit-sale contract, the contract
			 type, date and number and the quantity of grain transferred to the
			 contract.
(4) If warehouse receipt,
			 the receipt number, date and quantity of grain transferred to the
			 receipt.
(5) If removed from the
			 warehouse, the delivery document numbers, dates and amounts of the shipments.
Copies of all settlement sheets shall be maintained in
				alphabetical or numerical order by the dealer as part of the records, unless
				the dealer uses a computer system approved in writing by the bureau which
				sequentially numbers and prints settlement sheets and the settlement sheets can
				be retrieved on and reprinted by the computer system. A copy of the settlement
				sheet shall be given to the seller upon demand, upon payment or upon the
				issuance of a credit-sale contract. Any settlement sheet used in the pricing of
				grain for the purpose of sale to the grain dealer shall have the price shown on
				all copies of such settlement sheet. Deliveries and settlement transactions
				shall be posted to the settlement sheet on a daily basis unless a computer
				system is utilized which can generate a scale ticket summary sheet for each
				depositor