2005 Idaho Code - 69-261 — ADVISORY COMMITTEE -- TERMS -- COMPENSATION

                                  TITLE  69
                                  WAREHOUSES
                                  CHAPTER 2
                             BONDED WAREHOUSE LAW
    69-261.  ADVISORY COMMITTEE -- TERMS -- COMPENSATION. (1) There is hereby
created a commodity indemnity fund advisory committee consisting of nine (9)
members to be appointed by the director. Appointments shall be for up to three
(3) year terms, each term ending on the same day of the same month as did the
term preceding it. Any member appointed to fill a vacancy occurring prior to
the expiration of the term for which the member's predecessor was appointed
shall hold office for the remainder of the predecessor's term.
    (2)  The committee shall be composed of six (6) producers primarily
engaged in the production of commodities, and three (3) licensed bonded
warehousemen or licensed commodity dealers.
    (3)  The committee shall meet at such places and times as it shall
determine and as often as necessary to discharge the duties imposed upon it,
provided, it shall meet not less than twice per year. Each committee member
shall be compensated in accordance with section 59-509(o), Idaho Code, for
travel and subsistence expense. The expenses of the committee and its
operation shall be paid from the commodity indemnity fund.
    (4)  The committee shall have the power and duty to advise the director
concerning assessments, administration of the commodity indemnity fund, and
payment of claims from the fund. Every two (2) years the committee will review
the maximum limits of the fund and give advice to the director.