1. For all agricultural products that become storage in a licensed warehouse, warehouse receipts signed by the licensed warehouse operator or the operator’s authorized agent shall be issued by the licensed warehouse operator. Such warehouse receipts shall be in the form required or permitted by uniform commercial code, sections 554.7202 and 554.7204, provided, however, that each receipt issued for agricultural products, in addition to the matters specified in uniform commercial code, section 554.7202, shall embody in its written or printed terms:
a. The receiving and loadout charges which will be made by the warehouse operator.
b. The grade or other class of the agricultural products received and the standard or description in accordance with which such classification has been made; provided that such grade or other class shall be stated according to the official standard of the United States applicable to such agricultural products as the same may be fixed and promulgated; provided, further, that until such official standards of the United States for any agricultural product or products have been fixed and promulgated, the grade or other class thereof may be stated in accordance with any recognized standard or in accordance with such rules and regulations not inconsistent herewith as may be prescribed by the secretary of agriculture of the United States.
c. A statement that the receipt is issued subject to this chapter.
d. Such other terms and conditions as may be required by rules of the department.
Terms Used In Iowa Code 203C.18
- Agricultural product: shall mean any product of agricultural activity suitable for storage in quantity, including refined or unrefined sugar and canned agricultural products and shall also mean any product intended for consumption in the production of other agricultural products, such as stock salt, binding twine, bran, cracked corn, soybean meal, commercial feeds, and cottonseed meal. See Iowa Code 203C.1
- Department: means the department of agriculture and land stewardship. See Iowa Code 203C.1
- License: means a license issued under this chapter. See Iowa Code 203C.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: 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
- Person: means the same as defined in section 4. 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
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- United States: includes all the states. See Iowa Code 4.1
- 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 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
2. Warehouses that are not licensed pursuant to this chapter or by the United States government shall not issue warehouse receipts for agricultural products.
3. A form for a warehouse receipt shall only be printed by a person approved by the department. A form for a warehouse receipt shall be printed in accordance with specifications set forth by the department. A warehouse operator shall surrender to the department all forms for warehouse receipts that are unused at the time that the warehouse operator’s license is suspended or ceases due to revocation, cancellation, or expiration. The warehouse operator shall surrender the warehouse receipts in a manner required by the department.
4. The department may adopt rules to allow for the issuance of electronic warehouse receipts by a provider who is a person approved by the department to maintain a secure electronic central filing system of electronic records including warehouse receipts and who is independent of an outside influence or bias in action or appearance.