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2020 Kentucky Revised Statutes
Chapter 251 - Grain warehouses
251.380 Periodic inspections of licensed grain warehouses and licensed grain dealers -- Correction of deficiencies.

Universal Citation: KY Rev Stat § 251.380 (2020)
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251.380 Periodic inspections of licensed grain warehouses and licensed grain dealers -- Correction of deficiencies. (1) (2) (3) (4) (5) (6) The department shall inspect each licensed grain warehouse at least two (2) times each year. The department’s inspection shall include: (a) A determination whether the grain in storage is properly accounted for; (b) An assessment of the storage facilities for fitness; and (c) An assessment of the condition of the grain in storage. The department shall permit a licensee to store grain at another facility that is licensed and located in the Commonwealth of Kentucky, if the requirements for a surety bond or other evidence of financial responsibility set forth in KRS 251.365 are satisfied. A licensee that is short of grain may cover the shortage by: (a) Acquiring additional bond on one hundred percent (100%) of the value of the grain; or (b) Depositing the shortage value of the grain into a special account that is payable jointly to the licensee and the department. The department may allow a licensee that is short of grain to substitute one (1) type of grain for another type of grain on a dollar-for-dollar basis. The department shall inspect each licensed grain dealer at least one (1) time each year. The department’s inspection shall include: (a) An inspection of the licensee’s scale tickets, settlements, and canceled checks; and (b) Verification that payments are made by the dealer within thirty (30) days of the completion of delivery. A licensee that is short of grain shall correct any deficiencies identified by the department within the deadline mandated by the department. Effective: August 1, 2019 History: Created 2019 Ky. Acts ch. 88, sec. 12, effective August 1, 2019.
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