Iowa Administrative Code › Agency 21 - Agriculture and Land Stewardship Department › Chapter 90 - State Licensed Warehouses and Warehouse Operators › Rule 21-90.15 - Warehouse Receipts

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Warehouse receipt forms.
Warehouse receipt forms shall be 8.25
			 inches wide by 7 inches long or 8.5 inches wide by 11 inches long and shall be
			 printed in not less than triplicate. The original receipt shall be white, and
			 the weight of the paper shall not be less than 20-pound base; the warehouse
			 operator's copy shall be yellow and the weight of the paper shall not be less
			 than 16-pound base; and the owner's copy shall be green and the weight of the
			 paper shall not be less than 16-pound base. Receipts issued for bulk grain and
			 receipts issued for agricultural products other than bulk grain shall be in a
			 form prescribed by the department. The bureau shall have control over the
			 printing of warehouse receipts.
(2)
Electronic warehouse receipts. A
warehouse operator licensed
			 in accordance with the provisions of Iowa Code chapter 203 C may contract with
			 an independent provider to issue electronic warehouse receipts for grain and
			 other agricultural products subject to the provisions of this chapter The
			 provider shall be approved by the department.
(3)
Electronic warehouse receipt
			 providers and provider agreements. A
provider shall be independent of
			 any outside influence or bias in action or appearance. A provider shall enter
			 into a provider agreement with the department prior to being approved by the
			 department. A provider shall file and maintain electronic warehouse receipts
			 only on behalf of licensed warehouse operators who contract with the provider
			 for those services. The provider agreement shall be subject to, but not be
			 limited to, the provisions of paragraphs
"a"
through
"k"
of this subrule.
a.
Provider to he approved by the
			 USDA.
No provider shall be approved by the department unless the
			 provider is first approved as an electronic warehouse receipt provider by the
			 USDA pursuant to the provisions of 7 CFR Part 735. Upon department request, a
			 provider shall provide a copy of the provider's executed USDA Form WA-460 and
			 any addenda, and any other documentation requested by the department to confirm
			 that the provider is a USDA-approved provider in good standing.
b.
USDA action against
			 providers.
In the event that the USDA shall take action to deny,
			 withdraw, suspend, reinstate or terminate a USDA Provider Agreement, the
			 department shall automatically take the same action and the provider shall be
			 subject to such action by the department. A provider shall notify the
			 department of any such actions taken by the USDA.
c.
Provider to service only licensed
			 warehouse operators. A
provider shall enter into user agreements under
			 the terms of this rule only with warehouse operators licensed in accordance
			 with the provisions of Iowa Code chapter 203 C. A provider shall not issue
			 electronic warehouse receipts for grain or other agricultural products on
			 behalf of a warehouse operator in the state of Iowa unless the warehouse
			 operator is licensed in accordance with the provisions of Iowa Code chapter
			 203C or the United States Warehouse Act.
d.
Notice requirements for
			 providers.
(1) When entering into a
			 new user agreement, a provider shall provide written notice to the
			 department.
(2) All notices to the
			 USDA required by 7 CFR Part 735 and in the USDA Provider Agreement shall also
			 be served upon the department except as specifically exempted in the provider
			 agreement.
(3) In the user
			 agreement, a provider shall include a notice to the warehouse operator that the
			 data on the provider's central filing system is subject to disclosure to the
			 department and the USDA.
e.
Provisions to cease issuing
			 electronic warehouse receipts.
Upon notice by the department that a
			 warehouse operator license issued under Iowa Code chapter 203 C has expired or
			 has been canceled, suspended or revoked, a provider shall prohibit the
			 warehouse operator from issuing any electronic warehouse receipts until further
			 notice from the department.
f.
Department access to electronic warehouse receipt data. A
provider shall allow the department unrestricted access to the central filing
			 system for electronic warehouse receipts issued on behalf of warehouse
			 operators licensed by the department. The electronic warehouse receipt data
			 shall be maintained for six years after cancellation of the receipts. Access
			 shall be made available in a manner that allows interaction with department
			 warehouse examinations. Access shall be free of any charge or costs to the
			 department.
g.
Information
			 profile.
Upon issuance of a new user agreement to a warehouse operator
			 licensed under Iowa Code chapter 203 C, the provider shall notify the
			 department and request an information profile. The department shall provide an
			 information profile about the warehouse operator to the provider The
			 information profile shall consist of identifying information unique to each
			 warehouse operator and shall be contained within each electronic warehouse
			 receipt issued by a warehouse operator The information profile shall include
			 all statements and content required for warehouse receipts by the laws of the
			 state of Iowa and as required by the provisions of the USDA Form WA-460 and any
			 addenda pursuant to paragraph
"a "
of this subrule. This
			 information profile shall include, but not be limited to, the following:
(1) The warehouse operator's name;
(2) The type of business organization and the
			 state under whose laws the business is organized;
(3) The location of the warehouse operator's
			 corporate headquarters and the location of the warehouse;
(4) The warehouse operator's license number;
			 and
(5) For grain warehouse
			 receipts, the following statement: "The warehouse operator named herein,
			 licensed under Iowa Code chapter 203 C, has received for storage bulk grain of
			 the amount, kind and grade, as determined in accordance with the official grain
			 standards of the United States, for which this receipt is issued, subject to
			 the provisions of Iowa Code chapters 203C and 203D and the applicable rules.
			 Said grain is fully insured, unless otherwise allowed by law and noted within
			 this receipt, by the above-named warehouse operator against loss or damage by
			 fire, windstorm and inherent explosion."
h.
Termination of provider
			 agreement.
The department or provider may terminate the provider
			 agreement upon 60 days' written notice to the other party. The department shall
			 terminate a provider agreement on less than 60 days' notice in accordance with
			 paragraph
"b"
of this subrule. Upon termination of the provider
			 agreement, the provider shall immediately surrender copies of the electronic
			 data and paper records to the department for any electronic warehouse receipts
			 contained within the central filing system. Such data and paper record copies,
			 however, are limited to electronic warehouse receipts issued by warehouse
			 operators licensed under the provisions of Iowa Code chapter 203C.
i. Authorization, jurisdiction and liability.
			 A provider shall be authorized to transact business in the state of Iowa and
			 shall consent to jurisdiction in the state of Iowa and venue in Polk County,
			 Iowa. A provider shall be liable to the department for costs incurred by the
			 department as a result of action taken in the event of a failure of the central
			 filing system or any inability to provide the access required in paragraph '/"
			 of this subrule.
j.
Nonexclusive use.
A warehouse operator shall not be required
			 to issue warehouse receipts in electronic form.
k.
Receiverships and indemnity fund
			 claims
-
department as electronic warehouse receipt
			 holder
(1) A provider shall allow
			 for the department and the grain indemnity fund board to be a sole or joint
			 holder of an electronic warehouse receipt when the issuing warehouse operator's
			 license has been revoked and either one or both of the following apply:
1. The electronic warehouse receipt has been
			 surrendered to the department by a claimant for the proceeds of a grain
			 receivership pursuant to Iowa Code chapter 203 C.
2. The electronic warehouse receipt has been
			 surrendered to the department or the grain indemnity fund board by a claimant
			 for payment of a grain indemnity fund claim pursuant to Iowa Code chapter
			 203D.
(2) When an
			 electronic receipt holder files a claim against a grain receivership or against
			 the grain indemnity fund, the department shall obtain the consent and
			 instruction of the holder to change the holder information on the provider's
			 central filing system. The provider shall take any action ordered by the
			 department in regard to an electronic warehouse receipt involved with a grain
			 receivership or a grain indemnity fund claim. The department shall provide
			 documentary evidence of the claim and any resulting required action to the
			 provider The department may order any action including, but not limited to, the
			 following:
1. Reducing the quantity and value
			 of the product represented by an electronic receipt upon payment of partial
			 value from either receivership proceeds or the grain indemnity fund;
2. Prohibiting an electronic warehouse
			 receipt from being negotiated or otherwise transferred without the department's
			 consent due to payment of partial value from either receivership proceeds or
			 the grain indemnity fund;
3.
			 Canceling a warehouse receipt upon payment of full value to a claimant from
			 receivership proceeds, and issuing a replacement receipt to the department if
			 needed.