§ 586.561 — Discontinuance of operation of warehouse

Oregon § 586.561

• Jurisdiction: Oregon
• Vol.: 15
• Title 47: Agricultural Marketing and Warehousing
• Ch. 586: Warehouses

Text

(1) Any person operating a public warehouse who desires to discontinue the operation shall at least 30 days prior to the date of expiration or closing date notify, by certified or registered mail, at the last-known address all holders of warehouse receipts, all persons storing grain in such warehouse and the department of the intention to discontinue the public warehouse business.
(2) If the address of any holder of a warehouse receipt or persons storing grain is unknown, then the person operating a public warehouse shall also give notice of the intention to discontinue the operation of a public warehouse by publication in some newspaper of general circulation in the county once a week for two consecutive weeks. The date of the second published notice shall be at least 30 days prior to the date of expiration of the operations.
(3) It shall be the duty of owners of such grain to remove, or cause to be removed, their grain from such warehouse before the expiration date.
(4) If the warehouse has not notified all persons or holders of warehouse receipts as provided in subsection (1) of this section or published a notice as provided by subsection (2) of this section, and if at the expiration date of the operations of the warehouse there are outstanding warehouse receipts covering grain in storage in the warehouse, or in the opinion of the department there is reasonable evidence of outstanding liability by the warehouse under ORS chapter 77 or this chapter, then:
(a) The warehouse is required to apply for, obtain and maintain a bond as provided for in ORS 586.300 until such date that the State Department of Agriculture determines all grain has been removed from the warehouse or the rights or claims of all holders of warehouse receipts have been protected and satisfied.
(b) The department may invoke and is authorized to use the procedures and authority as provided for in ORS 586.525. The department is authorized to carry out and the warehouse is subject to the provisions of ORS 586.525 regardless of the fact that the license of the warehouse may have expired.

Legislative History

1957 c.11 §1; 1961 c.726 §422; 1995 c.79 §318; 2009 c.181 §113