Iowa Code 203C.17 – Receiving bulk grain at licensed and unlicensed warehouses
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1. Grain deposited with a licensed warehouse operator for which the actual sale price has not been fixed and either proper documentation has not been furnished or payment has not been made shall be considered stored grain and may be retained in open storage or placed under warehouse receipt. The licensed warehouse operator shall issue a warehouse receipt to the depositor upon request by the depositor. The warehouse operator‘s tariff shall apply to any grain that is retained in open storage or placed under warehouse receipt as provided in section 203C.18.
Attorney's Note
Under the Iowa Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Simple misdemeanor | up to 30 days | between $105 and $855 |
Terms Used In Iowa Code 203C.17
- Bulk grain: shall mean grain which is not contained in sacks. See Iowa Code 203C.1
- Contract: A legal written agreement that becomes binding when signed.
- Credit-sale contract: means the same as defined in section 203. See Iowa Code 203D.1
- Credit-sale contract: means the same as defined in section 203. See Iowa Code 203C.1
- Depositor: means a person who deposits grain in a licensed warehouse for storage, handling, or shipment, or who is the owner or legal holder of an outstanding warehouse receipt issued by a licensed warehouse, or who is lawfully entitled to possession of the grain. See Iowa Code 203D.1
- Depositor: means any person who deposits an agricultural product in a warehouse for storage, handling, or shipment, or who is the owner or legal holder of an outstanding warehouse receipt, or who is lawfully entitled to possession of the agricultural product. See Iowa Code 203C.1
- Fund: means the grain depositors and sellers indemnity fund created in section 203D. See Iowa Code 203D.1
- Grain: means the same as defined in section 203. See Iowa Code 203D.1
- Grain: means the same as defined in section 203. See Iowa Code 203C.1
- License: means a license issued under this chapter. See Iowa Code 203C.1
- Licensed warehouse: means the same as defined in section 203C. See Iowa Code 203D.1
- Licensed warehouse: shall mean a warehouse for the operation of which the department has issued a license in accordance with the provisions of section 203C. See Iowa Code 203C.1
- Licensed warehouse operator: means the same as in section 203C. See Iowa Code 203D.1
- Licensed warehouse operator: shall mean a warehouse operator who has obtained a license for the operation of a warehouse under the provisions of section 203C. See Iowa Code 203C.1
- Open storage: means grain or agricultural products which are received by a warehouse operator from a depositor for which warehouse receipts have not been issued or a purchase made and the records documented accordingly. See Iowa Code 203C.1
- Payment: means the actual payment or tender of payment by a grain dealer to a seller of the agreed purchase price, or in the case of disputes as to sales of grain, the undisputed portion of the purchase price without reduction for any separate claim of the grain dealer against the seller. See Iowa Code 203.8
- Person: means the same as defined in section 4. See Iowa Code 203C.1
- Scale weight ticket: means the same as defined in section 203C. See Iowa Code 203D.1
- Scale weight ticket: means a load slip or other evidence, other than a receipt, given to a depositor by a warehouse operator licensed under this chapter upon initial delivery of the agricultural product to the warehouse. See Iowa Code 203C.1
- Storage: means any grain or other agricultural products that have been received and have come under care, custody or control of a warehouse operator either for the depositor for which a contract of purchase has not been negotiated or for the warehouse operator operating the facility. See Iowa Code 203C.1
- Unlicensed warehouse operator: means a warehouse operator who retains grain in the warehouse not to exceed thirty days and is not licensed under the provisions of this chapter or the United States Warehouse Act. See Iowa Code 203C.1
- Warehouse: shall mean any building, structure, or other protected enclosure in this state used or usable for the storage of agricultural products. See Iowa Code 203C.1
- Warehouse operator: means the same as defined in section 203C. See Iowa Code 203D.1
- Warehouse operator: means a person engaged in the business of operating or controlling a warehouse for the storing, shipping, handling or processing of agricultural products, but does not include an incidental warehouse operator. See Iowa Code 203C.1
- year: means twelve consecutive months. See Iowa Code 4.1
2. Bulk grain deposited with a licensed warehouse operator for processing, cleaning, drying, shipping for the account of the depositor, or any other purpose shall be removed within thirty days from the date of deposit or such grain shall be considered stored grain. The warehouse operator’s tariff shall apply to the bulk grain as provided in section 203C.28.
3. Grain deposited and subject to a scale weight ticket that fails to have the price fixed and properly documented on the records of the licensed warehouse operator shall be retained in open storage.
4. All bulk grain whether retained in open storage and deposited subject to a scale weight ticket or placed under warehouse receipt is covered by the grain depositors and sellers indemnity fund as provided in chapter 203D.
5. An unlicensed warehouse operator shall not retain deposited bulk grain, if its actual sale price has not been fixed, and payment for the bulk grain has not been made within thirty days from its date of deposit, unless purchased by credit-sale contract. An unlicensed warehouse operator who retains deposited bulk grain under any other circumstance must either return the bulk grain to the depositor, or dispose of the bulk grain by order of the depositor, within thirty days from date of the deposit of the bulk grain.
6. If the depositor of bulk grain in an unlicensed warehouse fails to sell the grain or orders other disposition of the grain, the warehouse operator may purchase the grain, if otherwise allowed by law, on the thirtieth day after deposit at not less than the local market price at the close of business on the thirtieth day or return the grain to the depositor by the thirtieth day.
7. A licensed warehouse operator who does not have a sufficient quantity or quality of grain to satisfy the warehouse operator’s obligations based on an examination by the department shall not purchase grain on credit-sale contract to correct the shortage of grain. A licensed warehouse operator shall not issue a warehouse receipt for purposes of providing collateral, if the grain which is the subject of the warehouse receipt was purchased by credit-sale contract and is unpaid for by the warehouse operator.
8. a. At least once each year, a licensed warehouse operator shall send a statement to each holder of a warehouse receipt covering grain stored at the licensed warehouse operator’s licensed warehouse for more than one year. The statement shall be delivered in person or mailed to the holder’s last known address. The statement shall show the amount of all grain stored pursuant to a warehouse receipt for such warehouse receipt holder and the amount of any storage charges held by the licensed warehouse operator against that grain.
b. The failure to prepare a statement required by this subsection is a simple misdemeanor.
c. A violation of this section shall not constitute grounds for the suspension or revocation of a warehouse operator’s license.