SB55-ASA1-AA1,839,1310 (a) If the grain dealer has filed an annual financial statement under s. 126.13
11and that financial statement shows a current ratio of at least 1.25 to 1.0, the grain
12dealer's current ratio assessment rate equals the greater of zero or the current ratio
13assessment factor in sub. (3) (a) multiplied by the following amount:
SB55-ASA1-AA1,839,1414 1. Subtract one from the current ratio.
SB55-ASA1-AA1,839,1515 2. Divide the amount determined under subd. 1. by 3.
SB55-ASA1-AA1,839,1616 3. Multiply the amount determined under subd. 2. by negative one.
SB55-ASA1-AA1,839,1717 4. Raise the amount determined under subd. 3. to the 3rd power.
SB55-ASA1-AA1,839,1818 5. Subtract 0.75 from the current ratio.
SB55-ASA1-AA1,839,1919 6. Divide 0.65 by the amount determined under subd. 5.
SB55-ASA1-AA1,839,2020 7. Raise the amount determined under subd. 6. to the 5th power.
SB55-ASA1-AA1,839,2221 8. Add the amount determined under subd. 4. to the amount determined under
22subd. 7.
SB55-ASA1-AA1,839,2323 9. Add 2 to the amount determined under subd. 8.
SB55-ASA1-AA1,840,224 (b) If the grain dealer has filed an annual financial statement under s. 126.13
25and that financial statement shows a current ratio of less than 1.25 to 1.0, but greater

1than 1.0 to 1.0, the grain dealer's current ratio assessment rate equals the current
2ratio assessment factor in sub. (3) (b) multiplied by the following amount:
SB55-ASA1-AA1,840,33 1. Subtract one from the current ratio.
SB55-ASA1-AA1,840,44 2. Divide the amount determined under subd. 1. by 3.
SB55-ASA1-AA1,840,55 3. Multiply the amount determined under subd. 2. by negative one.
SB55-ASA1-AA1,840,66 4. Raise the amount determined under subd. 3. to the 3rd power.
SB55-ASA1-AA1,840,77 5. Subtract 0.75 from the current ratio.
SB55-ASA1-AA1,840,88 6. Divide 0.65 by the amount determined under subd. 5.
SB55-ASA1-AA1,840,99 7. Raise the amount determined under subd. 6. to the 5th power.
SB55-ASA1-AA1,840,1110 8. Add the amount determined under subd. 4. to the amount determined under
11subd. 7.
SB55-ASA1-AA1,840,1212 9. Add 2 to the amount determined under subd. 8.
SB55-ASA1-AA1,840,1613 (c) If the grain dealer has filed an annual financial statement under s. 126.13
14and that financial statement shows a current ratio of less than or equal to 1.0 to 1.0,
15the grain dealer's current ratio assessment rate equals the current ratio assessment
16factor in sub. (3) (b) multiplied by 120.81376.
SB55-ASA1-AA1,840,1917 (d) Except as provided in par. (e), if the grain dealer has not filed an annual
18financial statement under s. 126.13, the grain dealer's current ratio assessment rate
19equals the current ratio assessment factor in sub. (3) (b) multiplied by 5.71235.
SB55-ASA1-AA1,840,2420 (e) If the grain dealer has not filed an annual financial statement under s.
21126.13 and the grain dealer procures grain in this state solely as a producer agent,
22the grain dealer's current ratio assessment rate is 0.00025, except that, for the grain
23dealer's 5th or higher consecutive full license year of participation in the fund, the
24grain dealer's current ratio assessment rate is 0.000175.
SB55-ASA1-AA1,841,4
1(3) Current ratio assessment factor. (a) A grain dealer's current ratio
2assessment factor under sub. (2) (a) is 0.00003 except that, for the grain dealer's 5th
3or higher consecutive full license year as a contributing grain dealer, the grain
4dealer's current ratio assessment factor is zero.
SB55-ASA1-AA1,841,85 (b) A grain dealer's current ratio assessment factor under sub. (2) (b) to (d) is
60.000045 except that, for the grain dealer's 5th or higher consecutive full license year
7as a contributing grain dealer, the grain dealer's current ratio assessment factor is
80.000036.
SB55-ASA1-AA1,841,10 9(4) Debt to equity assessment rate. A grain dealer's debt to equity ratio
10assessment rate is calculated, at the beginning of the license year, as follows:
SB55-ASA1-AA1,841,1511 (a) If the grain dealer has filed an annual financial statement under s. 126.13
12and that financial statement shows positive equity and a debt to equity ratio of not
13more than 4.0 to 1.0, the grain dealer's debt to equity ratio assessment rate equals
14the greater of zero or the debt to equity ratio assessment factor in sub. (5) (a)
15multiplied by the following amount:
SB55-ASA1-AA1,841,1616 1. Subtract 4 from the debt to equity ratio.
SB55-ASA1-AA1,841,1717 2. Divide the amount determined under subd. 1. by 3.
SB55-ASA1-AA1,841,1818 3. Raise the amount determined under subd. 2. to the 3rd power.
SB55-ASA1-AA1,841,1919 4. Subtract 1.7 from the debt to equity ratio.
SB55-ASA1-AA1,841,2020 5. Divide the amount determined under subd. 4. by 1.75.
SB55-ASA1-AA1,841,2121 6. Raise the amount determined under subd. 5. to the 7th power.
SB55-ASA1-AA1,841,2322 7. Add the amount determined under subd. 3. to the amount determined under
23subd. 6.
SB55-ASA1-AA1,841,2424 8. Add 2 to the amount determined under subd. 7.
SB55-ASA1-AA1,842,5
1(b) If the grain dealer has filed an annual financial statement under s. 126.13
2and that financial statement shows a debt to equity ratio of greater than 4.0 to 1.0,
3but less than 5.0 to 1.0, the grain dealer's debt to equity ratio assessment rate equals
4the debt to equity ratio assessment factor in sub. (5) (b) multiplied by the following
5amount:
SB55-ASA1-AA1,842,66 1. Subtract 4 from the debt to equity ratio.
SB55-ASA1-AA1,842,77 2. Divide the amount determined under subd. 1. by 3.
SB55-ASA1-AA1,842,88 3. Raise the amount determined under subd. 2. to the 3rd power.
SB55-ASA1-AA1,842,99 4. Subtract 1.7 from the debt to equity ratio.
SB55-ASA1-AA1,842,1010 5. Divide the amount determined under subd. 4. by 1.75.
SB55-ASA1-AA1,842,1111 6. Raise the amount determined under subd. 5. to the 7th power.
SB55-ASA1-AA1,842,1312 7. Add the amount determined under subd. 3. to the amount determined under
13subd. 6.
SB55-ASA1-AA1,842,1414 8. Add 2 to the amount determined under subd. 7.
SB55-ASA1-AA1,842,1815 (c) If the grain dealer has filed an annual financial statement under s. 126.13
16and that financial statement shows negative equity or a debt to equity ratio of at least
175.0 to 1.0, the grain dealer's debt to equity ratio assessment rate equals the debt to
18equity ratio assessment factor in sub. (5) (b) multiplied by 86.8244.
SB55-ASA1-AA1,842,2219 (d) Except as provided in par. (e), if the grain dealer has not filed an annual
20financial statement under s. 126.13, the grain dealer's debt to equity ratio
21assessment rate equals the debt to equity ratio assessment factor in sub. (5) (b)
22multiplied by 8.77374.
SB55-ASA1-AA1,843,223 (e) If the grain dealer has not filed an annual financial statement under s.
24126.13 and the grain dealer procures grain in this state solely as a producer agent,
25the grain dealer's debt to equity ratio assessment rate is 0.00025, except that it is

10.000175 for the grain dealer's 5th or higher consecutive full license year of
2participation in the fund.
SB55-ASA1-AA1,843,6 3(5) Debt to equity ratio assessment factor. (a) A grain dealer's debt to equity
4ratio assessment factor under sub. (4) (a) is 0.0000125, except that it is zero for the
5grain dealer's 5th or higher consecutive full license year as a contributing grain
6dealer.
SB55-ASA1-AA1,843,97 (b) A grain dealer's debt to equity ratio assessment factor under sub. (4) (b) to
8(d) is 0.00001875, except that it is 0.000015 for the grain dealer's 5th or higher
9consecutive full license year as a contributing grain dealer.
SB55-ASA1-AA1,843,12 10(6) Deferred payment assessment rate. A grain dealer's deferred payment
11assessment rate is 0.0035, except that it is 0.002 for the grain dealer's 5th or higher
12consecutive full license year as a contributing grain dealer.
SB55-ASA1-AA1,843,15 13(7) Quarterly installments. (a) A contributing grain dealer shall pay the
14grain dealer's annual fund assessment in equal quarterly installments that are due
15as follows:
SB55-ASA1-AA1,843,1616 1. The first installment is due on October 1 of the license year.
SB55-ASA1-AA1,843,1717 2. The 2nd installment is due on January 1 of the license year.
SB55-ASA1-AA1,843,1818 3. The 3rd installment is due on April 1 of the license year.
SB55-ASA1-AA1,843,1919 4. The 4th installment is due on July 1 of the license year.
SB55-ASA1-AA1,843,2120 (b) A contributing grain dealer may prepay any of the quarterly installments
21under par. (a).
SB55-ASA1-AA1,844,222 (c) A contributing grain dealer who applies for an annual license after the
23beginning of a license year shall pay the full annual fund assessment required under
24this section. The grain dealer shall pay, with the first quarterly installment that

1becomes due after the day on which the department issues the license, all of that
2year's quarterly installments that became due before that day.
SB55-ASA1-AA1,844,53 (d) A contributing grain dealer who fails to pay the full amount of any quarterly
4installment when due shall pay, in addition to that installment, a late payment
5penalty of $50 or 10% of the overdue installment amount, whichever is greater.
SB55-ASA1-AA1,844,8 6(8) Notice of annual assessment and quarterly installments. When the
7department issues an annual license to a contributing grain dealer, the department
8shall notify the grain dealer of all of the following:
SB55-ASA1-AA1,844,109 (a) The amount of the grain dealer's annual fund assessment under this
10section.
SB55-ASA1-AA1,844,1211 (b) The amount of each required quarterly installment under sub. (7) and the
12date by which the grain dealer must pay each installment.
SB55-ASA1-AA1,844,1413 (c) The penalty that applies under sub. (7) (d) if the grain dealer fails to pay any
14quarterly installment when due.
SB55-ASA1-AA1,844,18 15126.16 Grain dealers; security. (1) Security required. (a) A grain dealer
16shall file security with the department, and maintain that security until the
17department releases it under sub. (8) (a), if all of the following apply when the
18department first licenses the grain dealer under s. 126.11:
SB55-ASA1-AA1,844,2019 1. The grain dealer reports more than $500,000 in grain payments under s.
20126.11 (9) (a).
SB55-ASA1-AA1,844,2221 2. The grain dealer files an annual financial statement under s. 126.13 (1) (a)
22and that financial statement shows negative equity.
SB55-ASA1-AA1,845,223 (b) A grain dealer who reports any deferred payment contract obligations under
24s. 126.11 (9) (c) or 126.13 (1) (d) shall file security with the department, and maintain

1that security until the department releases it under sub. (8) (b), unless the grain
2dealer has positive equity and one of the following applies:
SB55-ASA1-AA1,845,53 1. The grain dealer's annual financial statement under s. 126.13 covers a fiscal
4year ending on or before January 1, 2006, and shows a debt to equity ratio of not more
5than 5.0 to 1.0.
SB55-ASA1-AA1,845,86 2. The grain dealer's annual financial statement under s. 126.13 covers a fiscal
7year ending after January 1, 2006, and shows a debt to equity ratio of not more than
84.0 to 1.0.
SB55-ASA1-AA1,845,11 9(2) Security continued. A grain dealer who filed security under ch. 127, 1999
10stats., before September 1, 2002, shall maintain that security until the department
11releases it under sub. (8) (c).
SB55-ASA1-AA1,845,14 12(3) Amount of security. A grain dealer who is required to file or maintain
13security under this section shall at all times maintain security that is at least equal
14to the sum of the following:
SB55-ASA1-AA1,845,1815 (a) An amount equal to 35% of the grain dealer's average monthly payment for
16the 3 months, during the preceding 12 months, in which the grain dealer made the
17largest monthly payments for producer grain procured in this state, except that this
18amount is not required of a contributing grain dealer after December 1, 2002.
SB55-ASA1-AA1,845,2119 (b) The grain dealer's highest total, at any time during the preceding 12
20months, of unpaid obligations for producer grain procured in this state under
21deferred payment contracts.
SB55-ASA1-AA1,845,24 22(4) Form of security. The department shall review, and determine whether
23to approve, security filed or maintained under this section. The department may
24approve only the following types of security:
SB55-ASA1-AA1,845,2525 (a) Currency.
SB55-ASA1-AA1,846,1
1(b) A commercial surety bond if all of the following apply:
SB55-ASA1-AA1,846,32 1. The surety bond is made payable to the department for the benefit of grain
3producers and producer agents.
SB55-ASA1-AA1,846,54 2. The surety bond is issued by a person authorized to operate a surety business
5in this state.
SB55-ASA1-AA1,846,86 3. The surety bond is issued as a continuous term bond that may be canceled
7only with the department's written agreement or upon 90 days' prior written notice
8served on the department in person or by certified mail.
SB55-ASA1-AA1,846,109 4. The surety bond is issued in a form, and subject to any terms and conditions,
10that the department considers appropriate.
SB55-ASA1-AA1,846,1211 (c) A certificate of deposit or money market certificate if all of the following
12apply:
SB55-ASA1-AA1,846,1413 1. The certificate is issued or endorsed to the department for the benefit of grain
14producers and producer agents who deliver grain to the grain dealer.
SB55-ASA1-AA1,846,1615 2. The certificate may not be canceled or redeemed without the department's
16written authorization.
SB55-ASA1-AA1,846,1817 3. No person may transfer or withdraw funds represented by the certificate
18without the department's written permission.
SB55-ASA1-AA1,846,1919 4. The certificate renews automatically without any action by the department.
SB55-ASA1-AA1,846,2120 5. The certificate is issued in a form, and subject to any terms and conditions,
21that the department considers appropriate.
SB55-ASA1-AA1,846,2222 (d) An irrevocable bank letter of credit if all of the following apply:
SB55-ASA1-AA1,846,2423 1. The letter of credit is payable to the department for the benefit of grain
24producers and producer agents.
SB55-ASA1-AA1,846,2525 2. The letter of credit is issued on bank letterhead.
SB55-ASA1-AA1,847,1
13. The letter of credit is issued for an initial period of at least one year.
Loading...
Loading...