251.380 Periodic inspections of licensed grain warehouses and licensed grain

256 words·~1 min read·/ky/251-380

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

dealers -- Correction of deficiencies.

(1)The department shall inspect each licensed grain warehouse at least two

(2)times

each year. The department’s inspection shall include:

(a)A determination whether the grain in storage is properly accounted for;

(b)An assessment of the storage facilities for fitness; and

(c)An assessment of the condition of the grain in storage.

(2)The department shall permit a licensee to store grain at another facility that is

licensed and located in the Commonwealth of Kentucky, if the requirements for a

surety bond or other evidence of financial responsibility set forth in KRS 251.365

are satisfied.

(3)A licensee that is short of grain may cover the shortage by:

(a)Acquiring additional bond on one hundred percent (100%) of the value of the

grain; or

(b)Depositing the shortage value of the grain into a special account that is

payable jointly to the licensee and the department.

(4)The department may allow a licensee that is short of grain to substitute one

(1)type

of grain for another type of grain on a dollar-for-dollar basis.

(5)The department shall inspect each licensed grain dealer at least one

(1)time each

year. The department’s inspection shall include:

(a)An inspection of the licensee’s scale tickets, settlements, and canceled checks;

and

(b)Verification that payments are made by the dealer within thirty

(30)days of

the completion of delivery.

(6)A licensee that is short of grain shall correct any deficiencies identified by the

department within the deadline mandated by the department.