126.15 Contributing grain dealers; fund assessments.

309 words·~1 min read·/wi/chapter-126/126-15

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

(1)General. A contributing grain dealer shall pay an annual fund assessment for each license year. Except as provided in sub.

(6m), the assessment equals $20 or the sum of the following, whichever is greater, unless the department by rule specifies a different assessment:

(a)The grain dealer’s current ratio assessment. The current ratio assessment for a license year equals the grain dealer’s current ratio assessment rate under sub.

(2)multiplied by the amount reported under s. 126.11

(a)in the grain dealer’s license application for that license year.

(b)The grain dealer’s debt to equity ratio assessment. The debt to equity ratio assessment for a license year equals the grain dealer’s debt to equity ratio assessment rate under sub.

(4)multiplied by the amount reported under s. 126.11

(a)in the grain dealer’s license application for that license year.

(c)The grain dealer’s deferred payment assessment. The deferred payment assessment for a license year equals the payment amount, if any, that the grain dealer reports under s. 126.11

(b)in the grain dealer’s license application for that license year, less any amount reported under s. 126.11

(e)4. , multiplied by the grain dealer’s deferred payment assessment rate under sub.

(6).

(2)Current ratio assessment rate. A grain dealer’s current ratio assessment rate is calculated, at the beginning of the license year, as follows:

(a)If the grain dealer has filed an annual financial statement under s. 126.13 and that financial statement shows a current ratio of at least 1.25 to 1.0, the grain dealer’s current ratio assessment rate equals the greater of zero or the current ratio assessment factor in sub.

(a)multiplied by the following amount:

1. Subtract one from the current ratio.

2. Divide the amount determined under subd. 1. by 3.