2016 Colorado Revised Statutes
Title 12 - Professions and Occupations
General
Article 16 - Farm Products and Farm Commodity Warehouses
Part 2 - Commodity Warehouses
§ 12-16-202. Definitions - rules

As used in this part 2, unless the context otherwise requires:

(1) (Deleted by amendment, L. 2009, (SB 09-114), ch. 111, p. 464, § 11, effective April 9, 2009.)

(1.5) "Bailee" means a person who, by a negotiable warehouse receipt or other document of title, acknowledges possession of goods and contracts to deliver them.

(2) "Bailment" means the act of delivering goods or personal property to another in trust.

(2.5) "Commercial feeding" means the feeding of livestock by a person who receives compensation from the owner of the livestock for such feeding.

(3) "Commissioner" means the commissioner of agriculture or his designee.

(4) "Commodity" means unprocessed small, hard seeds or fruits such as wheat, corn, oats, barley, rye, sunflower seeds, soybeans, beans, grain sorghum, and such other seeds or fruits as may be determined by the commissioner.

(4.5) (a) "Commodity handler" means:

(I) Any person engaged in buying any commodities from the owner for processing or resale;

(II) Any person engaged in receiving and taking possession of any commodities from the owner for storage or safekeeping;

(III) Any person engaged in soliciting or negotiating sales of commodities between the vendor and purchaser respectively;

(IV) Any person who receives on consignment or solicits from the owner thereof any kind of commodity for sale on commission on behalf of such owner, or who accepts any commodity in trust from the owner thereof for the purpose of resale, or who sells or offers for sale on commission any commodity or in any way handles any commodity for the account of the owner thereof; or

(V) Any person engaged in buying any commodity from the owner thereof for the commercial feeding of livestock that are owned wholly or in part by another, at an animal feeding operation with a capacity of more than two thousand five hundred head of livestock. The commissioner shall establish rules to determine the capacity of animal feeding operations for purposes of this article.

(b) "Commodity handler" does not include:

(I) A bona fide retail grocery merchant or restaurateur having a fixed or established place of business in Colorado as long as the use of commodities by any such person is directly related to the operation of the person's retail grocery or restaurant; or

(II) A producer under the "Colorado Cottage Foods Act", section 25-4-1614 (9) (c), C.R.S., who earns net revenues of ten thousand dollars or less per calendar year from the sale of each eligible food product.

(5) "Compensation" means something of value or benefit, whether in cash, in kind, or in any other form.

(6) "Credit sale contract" means a contract for the sale of a commodity when the sale price is to be paid on a date later than thirty days after delivery of the commodity to the buyer and includes those contracts commonly referred to as deferred payment contracts, deferred pricing contracts, and price later contracts.

(7) "Department" means the department of agriculture.

(8) "Financial statement" means a statement that accurately presents the financial condition of an applicant or licensee and that includes, at a minimum, a balance sheet and a statement of income.

(8.5) "Forwarded commodities" means commodities sent to a terminal warehouse and put on open storage in the name of the forwarding warehouse operator.

(8.6) "Functional unit" means one or more warehouses that constitute a single operating unit if:

(a) The same warehouse operator operates each warehouse in conjunction with any other;

(b) All the warehouses are functioning under the same name and with the same personnel, office, books, and records; and

(c) Together the warehouses have the capability to weigh, grade, receive, store, and load out commodities.

(9) "Handling" means buying commodities for resale or processing, brokering commodities, or receiving and loading out commodities tendered for storage.

(9.5) "Livestock" has the same meaning as set forth in section 35-1-102 (6), C.R.S.

(10) "Loss" means any monetary loss to a producer or owner which is of an extraordinary nature and which includes, but is not limited to, bankruptcy, embezzlement, theft, fraud, or negligence.

(11) "Market value" means the value required by law to be used by insurance underwriters in paying for losses of commodities insured for their actual value.

(12) "Negotiable warehouse receipt" means a receipt which specifies by its terms that the goods are to be delivered to the bearer or to the order of a named person. Any other receipt is nonnegotiable.

(13) "Owner" means any person in whom legal title to any commodity is vested, whether produced by him or acquired by purchase.

(14) "Person" includes any individual, firm, association, partnership, or corporation or the commissioner.

(15) "Processing" means the operation of canning, fermenting, distilling, extracting, preserving, grinding, crushing, flaking, mixing, or otherwise changing the form of a commodity for the purpose of selling any of the resulting products.

(16) "Producer" means any grower of commodities.

(17) "Provisional insurance coverage" means a certificate or any other satisfactory evidence of fire and extended coverage insurance issued by an insurance company authorized to do business in this state insuring every commodity in the custody of a warehouse operator, whether held for others or owned by the warehouse operator, at the full local market value of each commodity.

(18) "Public warehouse" includes any elevator, mill, warehouse, or other structure in which commodities are received from one or more members of the public for storage.

(19) "Scale ticket" means a receipt issued for a commodity which names the person to whom it is issued and the kind and grade of the commodity stored.

(20) "Settlement sheet" means a summary of the commodity handler's transactions with an owner.

(21) "Storage" means the holding of a commodity for another by a person who does not directly own the commodity. "Storage" does not include transportation of a commodity.

(21.5) "Terminal warehouse" means any public warehouse licensed by the Colorado department of agriculture, the United States department of agriculture, or any state that has a warehouse examination cooperative agreement with Colorado or the United States department of agriculture.

(22) "Warehouse operator" includes any person or existing legal entity owning, operating, or controlling any public warehouse.