Iowa § 203C.40 Prioritization of inspections of warehouse operators

Iowa Statutes

§ 203C.40 — Prioritization of inspections of warehouse operators

Iowa § 203C.40

Title VAGRICULTURE

Ch. 203CWAREHOUSES FOR AGRICULTURAL PRODUCTS

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Bluebook

Iowa Code § 203C.40 (2026).

Text

The department shall develop a system to prioritize the inspections of warehouse operators
provided in section 203C.2. The system of prioritization shall be computed each year based
on the risk of loss to the grain depositors and sellers indemnity fund caused by the possible
insolvency of the warehouse operator. The department shall compute the risk by utilizing
an available statistical model to measure the financial condition of warehouse operators.
23 WAREHOUSES FOR AGRICULTURAL PRODUCTS, §203C.40
Procedures for utilizing the statistical model shall be adopted by department rules. The
statistical model shall be used to provide risk ratings. A risk rating shall be used as a factor
by the department to prioritize its inspection schedule. The department may inspect a
warehouse operator at a

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The department shall develop a system to prioritize the inspections of warehouse operators
provided in section 203C.2. The system of prioritization shall be computed each year based
on the risk of loss to the grain depositors and sellers indemnity fund caused by the possible
insolvency of the warehouse operator. The department shall compute the risk by utilizing
an available statistical model to measure the financial condition of warehouse operators.
23 WAREHOUSES FOR AGRICULTURAL PRODUCTS, §203C.40
Procedures for utilizing the statistical model shall be adopted by department rules. The
statistical model shall be used to provide risk ratings. A risk rating shall be used as a factor
by the department to prioritize its inspection schedule. The department may inspect a
warehouse operator at any time based on a risk of loss to the fund according to the risk
rating. A substantial risk of loss to the grain depositors and sellers indemnity fund caused
by the possible insolvency of the warehouse operator based on the statistical model shall be
good cause.