§ 26-4-6-7 — Denial of claim

The board shall deny the payment of
compensation under this chapter to a claimant who has incurred a
financial loss or storage loss due to the revocation of a license of a
warehouse or grain buyer when the board determines the existence of
any of the following:
(1) The claimant as payee has failed to present for payment a
negotiable instrument issued as payment for grain within ninety
(90) days from the date the negotiable instrument is tendered to
the claimant in satisfaction of obligations for grain purchased by
the licensed grain establishment.
(2) The claimant has engaged in conduct or practices that differ
from generally accepted marketing practices within the grain
industry, as determined by a majority of the board, to an extent
that the claimant's actions have substantially contributed to the
claimant's loss. The Indiana grain indemnity board may consider
whether contracts not excluded under IC 26-3-7 are to be
generally accepted marketing practices within the grain industry.

Legislative History

As added by P.L.250-1995, SEC.1. Amended by P.L.139-1996, SEC.13; P.L.114-2025, SEC.76.