Missouri § 411.280 Warehouseman's net worth, requirements — deficiency, how corrected.

Missouri Statutes

§ 411.280 — Warehouseman's net worth, requirements — deficiency, how corrected.

Missouri § 411.280

Title XXVITRADE AND COMMERCE

Ch. 411Missouri Grain Warehouse Law

This text of Missouri § 411.280 (Warehouseman's net worth, requirements — deficiency, how corrected.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 411.280 (2026).

Text

Every warehouseman licensed under the provisions of this chapter shall have and maintain a net worth equal to the greater of ten thousand dollars or the amount which results from multiplying the storage capacity of the warehouse by twenty-five cents per bushel.  Capital stock, for the purpose of determining the net worth, shall not be considered a liability.  Any deficiency in required net worth above the ten thousand dollar minimum requirement may be met by supplying additional bond in an amount equal to one thousand dollars for each one thousand dollars or fraction thereof of deficiency.

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Every warehouseman licensed under the provisions of this chapter shall have and maintain a net worth equal to the greater of ten thousand dollars or the amount which results from multiplying the storage capacity of the warehouse by twenty-five cents per bushel. Capital stock, for the purpose of determining the net worth, shall not be considered a liability. Any deficiency in required net worth above the ten thousand dollar minimum requirement may be met by supplying additional bond in an amount equal to one thousand dollars for each one thousand dollars or fraction thereof of deficiency.

Legislative History

(L. 1941 p. 373 § 46, A.L. 1965 p. 606, A.L. 1977 S.B. 75, A.L. 1980 S.B. 601, A.L. 1986 H.B. 1578, A.L. 1997 H.B. 211, A.L. 2011 H.B. 458 merged with S.B. 356)