Indiana § 26-4-4-7 Inspection of books and records; verification; confidentiality

Indiana Statutes

§ 26-4-4-7 — Inspection of books and records; verification; confidentiality

Indiana·Title 26 COMMERCIAL LAW·Art. 4 GRAIN INDEMNITY PROGRAM·Ch. 4 Indiana Grain Indemnity Fund

(a)The:

(1)books and records of each grain buyer must clearly indicate the producer premiums collected by the grain buyer; and

(2)portion of the books and records reflecting the premiums collected must be open for inspection by the corporation, board, board's authorized agents, director, or the director's designated representative during regular business hours.

(b)Each grain buyer shall keep accurate and correct records of grain purchased from producers documenting the producer premiums paid by producers. The records must be maintained by the grain buyer for a period of five (5) years from the date of remittance of the producer premiums to the corporation. The records must be available to authorized agents of the corporation during normal business hours.

(c)The corporation, board, boa

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(a) The:
(1) books and records of each grain buyer must clearly indicate
the producer premiums collected by the grain buyer; and
(2) portion of the books and records reflecting the premiums
collected must be open for inspection by the corporation, board,
board's authorized agents, director, or the director's designated
representative during regular business hours.
(b) Each grain buyer shall keep accurate and correct records of grain
purchased from producers documenting the producer premiums paid
by producers. The records must be maintained by the grain buyer for
a period of five (5) years from the date of remittance of the producer
premiums to the corporation. The records must be available to
authorized agents of the corporation during normal business hours.
(c) The corporation, board, board's authorized agent, director, or the
director's designated representative may take steps reasonably
necessary to verify the accuracy of the portion of a grain buyer's books
and records that reflect the premiums collected. The information
obtained under this section is confidential for purposes of IC 5-14-3-4(a)(1). Unless otherwise required by judicial order, the
information obtained under this section may be disclosed only to
parties empowered to see or review the information. The corporation,
board, or director may respond to inquiries or disclose information
obtained under this section only in accordance with guidelines set forth
in IC 26-3-7-6.5.
(d) Notwithstanding subsections (a) and (c), the verification
permitted under subsection (c) must be completed by the agency unless
two-thirds (2/3) of the board vote to have the verification completed by
an independent auditor.

Indiana § 26-4-4-7 (Inspection of books and records; verification; confidentiality) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.