(a) A cotton gin, cotton warehouse, cotton merchant, or cotton marketing cooperative or association shall, on or before July 1 of each year, file an application for registration on a form provided by the Commissioner of Agriculture. A fee of twenty-five dollars ($25.00) shall be submitted with each application.
(b) An application for registration as a cotton warehouse shall also be accompanied by a bond in the amount of three hundred thousand dollars ($300,000) issued by a company authorized to issue surety bonds in North Carolina and shall be conditioned upon fulfillment of contractual obligations related to the purchase or storage of cotton. A bond shall not be required for a person who is licensed and bonded under the U.S. Warehouse Act.
(c) The registration certificate shall be conspicuously displayed at the place of business. (1999-412, s. 1.)
Sections: Previous 106-451.24 106-451.25 106-451.26 106-451.27 106-451.28 106-451.40 106-451.41 106-451.42 106-451.43 106-451.44 106-453 106-454 106-455 106-461 106-462 Next
Last modified: March 23, 2014