South Carolina Code 46-41-250. Election not to participate in fund; application for exemption
(B) The election consists of a written, notarized application upon a form designed and provided by the department. The application must be filed with the department before April first of the year for which the exemption is desired.
Terms Used In South Carolina Code 46-41-250
- commodity: means cotton and all agricultural products commonly classed as grain, including corn, wheat, oats, soybeans, barley, and grain sorghum, produced within this State. See South Carolina Code 46-41-210
- Department: means the South Carolina Department of Agriculture. See South Carolina Code 46-41-210
- Grain: means any feed grains or oil seeds, except cotton seeds. See South Carolina Code 46-41-210
- Loss: means any monetary loss over and beyond the amount protected by the dealer's bond as a result of doing business with a dealer which includes, but is not limited to, bankruptcy, embezzlement, or fraud. See South Carolina Code 46-41-210
- Producer: means any producer of grain or cotton. See South Carolina Code 46-41-210
(C) Upon filing of the application, the department must issue the applicant an exemption certificate specifying the producer, commodity exempted, and period of exemption. The certificate, when presented to the grain or cotton dealer upon delivery of the grain or cotton, entitles the specified producer to an exemption from the dealer’s and handler’s assessment on the specified commodity.
(D) When an exemption is granted under this section, the grain or cotton dealer must retain a copy of the exemption certificate for a period of no less than two years. Any producer who elects not to participate in the fund is not eligible to be reimbursed for any loss for the commodity exempted for that calendar year.