SB55-ASA1-AA1,855,12 (b) Accurately record the determined weight, grade, or quality.

SB55-ASA1-AA1,855,15 (2) Timely payment to producers. A grain dealer shall pay for grain when payment is due. A grain dealer may not make payment by nonnegotiable check or note or by check drawn on an account containing insufficient funds.

SB55-ASA1-AA1,855,17 (3) Permanent business location. A grain dealer licensed under s. 126.11 shall do all of the following:

SB55-ASA1-AA1,855,19 (a) Maintain a permanent business address at which grain producers may readily contact the grain dealer during business hours.

SB55-ASA1-AA1,855,21 (b) On each day that the Chicago Board of Trade is open for trading, keep business hours that start no later than 9 a.m. and end no earlier than 2:30 p.m.

SB55-ASA1-AA1,855,23 (c) Prominently post the grain dealer's business hours at each of the grain dealer's business locations in this state.

SB55-ASA1-AA1,855,24 (4) Prohibited practices. No grain dealer may do any of the following:

SB55-ASA1-AA1,856,2 (a) Misrepresent the weight, grade, or quality of grain received from or delivered to any person.

SB55-ASA1-AA1,856,4 (b) Falsify any record or account, or conspire with any other person to falsify a record or account.

SB55-ASA1-AA1,856,5 (c) Make any false or misleading representation to the department.

SB55-ASA1-AA1,856,8 (d) If the grain dealer is licensed under s. 126.11, engage in any activity that is inconsistent with a representation made in the grain dealer's annual license application.

SB55-ASA1-AA1,856,10 (e) Make any false or misleading representation to a grain producer or producer agent related to any matters regulated under this chapter.

SB55-ASA1-AA1,856,12 (f) Fail to file the full amount of security required under s. 126.16 (7) by the date that the department specifies.

SB55-ASA1-AA1,856,16 126.21 Grain producer obligations. (1) Delivery per contract. No grain producer or producer agent who contracts to sell and deliver grain to a grain dealer at an agreed price may wrongfully refuse to deliver that grain according to the contract.

SB55-ASA1-AA1,856,24 (2) Disclosure of liens and security interests. A grain dealer procuring grain from a grain producer or producer agent may require the grain producer or producer agent to disclose any liens or security interests that apply to the grain. The grain dealer may require the disclosure in writing. The grain dealer may require the grain producer or producer agent to specify the nature and amount of each lien or security interest and the identity of the person holding that lien or security interest. No grain producer may falsify or fraudulently withhold information required under this subsection in order to sell grain.

SB55-ASA1-AA1,857,2 subchapter IV GRAIN WAREHOUSE KEEPERS

SB55-ASA1-AA1,857,3 126.25 Definitions. In this subchapter:

SB55-ASA1-AA1,857,8 (1) "Capacity" means the maximum amount of grain, measured in bushels, that can be stored in a grain warehouse. The capacity of a grain warehouse is determined by dividing the cubic volume of all bins, expressed in cubic feet, by 1.244 cubic feet per bushel, and applying a pack factor that the department specifies by rule.

SB55-ASA1-AA1,857,13 (2) "Contributing grain warehouse keeper" means a grain warehouse keeper who is licensed under s. 126.26, who either has paid one or more quarterly installments under s. 126.30 (6) or is required to contribute to the fund, but the first quarterly installment under s. 126.30 (6) is not yet due, and who is not disqualified under s. 126.29 (2).

SB55-ASA1-AA1,857,15 (3) "Current ratio" means the ratio of the value of current assets to the value of current liabilities, calculated according to s. 126.28 (6) (c) 1.

SB55-ASA1-AA1,857,17 (4) "Debt to equity ratio" means the ratio of the value of liabilities to equity, calculated according to s. 126.28 (6) (c) 2.

SB55-ASA1-AA1,857,18 (5) "Depositor" means any of the following:

SB55-ASA1-AA1,857,21 (a) A person who delivers grain to a grain warehouse keeper for storage, conditioning, shipping, or handling, without transferring ownership to the warehouse keeper.

SB55-ASA1-AA1,857,24 (b) A person who owns or legally holds a warehouse receipt or other document that is issued by a grain warehouse keeper and that entitles the person to receive stored grain.

SB55-ASA1-AA1,858,2 (6) "Disqualified grain warehouse keeper" means a grain warehouse keeper who is disqualified from the fund under s. 126.29 (2).

SB55-ASA1-AA1,858,5 (8) "Grain warehouse" means a facility in this state that is used to receive, store, or condition grain for others or that is used in the shipment of grain for others, except that "grain warehouse" does not include a transport vehicle.

SB55-ASA1-AA1,858,9 (9) "Grain warehouse keeper" means a person who operates one or more grain warehouses in this state to receive, store, condition, or ship grain for others, except that "grain warehouse keeper" does not include a person licensed under the United States Warehouse Act, 7 USC 241 to 271.

SB55-ASA1-AA1,858,11 (9m) "License year" means the period beginning on September 1 and ending on the following August 31.

SB55-ASA1-AA1,858,13 (11) "Warehouse receipt" means a receipt for grain, issued by a grain warehouse keeper, that is also a document of title under s. 401.201 (15).