1. A license must be obtained from the commissioner for each public warehouse in
operation in this state. A license issued is for one year and terminates on the thirty-first
day of July in the year of expiration. An initial annual license application that becomes
effective after June first does not expire until July thirty-first of the following calendar
year.
2. A license may not describe more than one public warehouse nor grant permission to
operate a public warehouse other than the one described.
3. a. The annual license fee for a public warehouse is:
(1)Four hundred dollars for a warehouse that purchased up to one million
dollars worth of grain during the previous licensing period, or intends to
purchase up to one million dollars worth of grain during the first year of
operation;
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1. A license must be obtained from the commissioner for each public warehouse in
operation in this state. A license issued is for one year and terminates on the thirty-first
day of July in the year of expiration. An initial annual license application that becomes
effective after June first does not expire until July thirty-first of the following calendar
year.
2. A license may not describe more than one public warehouse nor grant permission to
operate a public warehouse other than the one described.
3. a. The annual license fee for a public warehouse is:
(1) Four hundred dollars for a warehouse that purchased up to one million
dollars worth of grain during the previous licensing period, or intends to
purchase up to one million dollars worth of grain during the first year of
operation;
(2) Eight hundred dollars for a warehouse that purchased more than one million
dollars worth of grain but not more than ten million dollars worth of grain
during the previous licensing period, or intends to purchase more than
one million dollars worth of grain but not more than ten million dollars worth
of grain during the first year of operation; and
(3) One thousand two hundred dollars for a warehouse that purchased more
than ten million dollars worth of grain during the previous licensing period, or
intends to purchase more than ten million dollars worth of grain during the
first year of operation.
b. An application for an annual license renewal received after July fifteenth must
include an additional one hundred dollar fee per warehouse.
4. If a public warehouseman operates two or more warehouses in the same city or
railroad siding, in conjunction with each other and with the same working force, and
keeps one set of books and records for the warehouses, and issues one series of
scale tickets, warehouse receipts, checks, and credit-sale contracts for the grain
stored and purchased, only one license is required for the operation of all the
warehouses. When two or more warehouses are operated under one license, the
license fee is based upon the combined value of the grain purchased by the
warehouses during the previous licensing period.
5. The license must be posted in a conspicuous place in the public warehouse.