§ 3.1-722.24. (Repealed effective October 1, 2008) Grounds for refusal or revocation of license
The Commissioner may refuse to grant or renew any license or may revoke any license upon a showing that:
(a) The dealer has suffered a final money judgment to be entered against him upon which execution has been returned unsatisfied; or,
(b) The dealer has failed to promptly and properly account and pay for grain; or,
(c) The dealer has failed to keep and maintain business records of his grain transactions as required herein; or,
(e) The dealer has failed to post current discounts where they can readily be reviewed by the producer or his representative; or,
(f) The dealer, upon the request of the producer or his representative, has failed to notify the producer or his representative at the time of delivery of all discounts and deductions applied; or,
(g) The dealer has failed to file annually with the Commissioner the discount schedules for each grain purchased, including the effective date thereof, or has failed to make available upon request of the Commissioner or his designated representative during normal business hours any changes in the discount schedules which have been filed; or,
(h) The dealer has engaged in fraudulent or deceptive practices in the transaction of his business as a dealer; or
(i) The dealer has failed to state on producers receipts the type of grain transactions which shall be construed to include, but not by way of limitation, storage, grain bank, grain exchange, price later, deferred payment and contract.
For the purpose of this section "promptly and properly pay" shall mean full payment within ten calendar days of the receipt of the grain by the grain dealer, unless a written agreement signed by both parties expressly provides or permits otherwise.
Any grain dealer who purchases grain from a producer thereof shall deliver to the producer or his duly authorized representative the full amount of the purchase price, within the time specified in this section. Payment shall occur either by transferring a check in the full amount to the producer or his authorized agent at the point of transfer of possession, wiring transfer funds to the producer's account for the full purchase price, or by depositing a check in the United States mail for the full amount properly addressed to the producer and in an envelope postmarked within the time specified in this section.
Any grain dealer who sells grain deposited in his grain storage facility by a producer thereof shall promptly notify the producer or his duly authorized representative of the sale, and shall deliver to the producer or his authorized representative the full amount of the purchase price within the time specified in this section. The time limit may be extended for good cause and with the written consent of the depositor. Nonpayment by the purchaser shall not constitute "good cause" under this section.
Any grain dealer who enters into a deferred payment, price later or contract transaction with a producer shall have the transaction in writing and signed by both parties and shall deliver a copy of the transaction to the producer or his duly authorized representative. Upon conclusion of the written agreement transaction, the grain dealer shall deliver to the producer or his authorized representative the full amount of the purchase price within the time specified in this section.
(j) The dealer has failed to maintain a bond or letter of credit as provided herein.
(k) The dealer has violated any rule or regulation promulgated by the Board.
(1972, c. 296; 1975, c. 85; 1982, c. 187.)Sections: Previous 3.1-722.18 3.1-722.19 3.1-722.20 3.1-722.20:1 3.1-722.21 3.1-722.22 3.1-722.23 3.1-722.24 3.1-722.25 3.1-722.26 3.1-722.27 3.1-722.28 3.1-722.29 3.1-722.30 3.1-722.31 Next
Last modified: April 2, 2009