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2012 Missouri Revised Statutes
TITLE XXVI TRADE AND COMMERCE
Chapter 411 Missouri Grain Warehouse Law
Section 411.281 Additional bond required, when--amount, how determined.

Universal Citation:
MO Rev Stat § 411.281 (2012)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Additional bond required, when--amount, how determined.

411.281. 1. The director, after a hearing held in accordance with this chapter and regulations promulgated hereunder, may make a determination that the warehouseman has failed, or is unable, to meet storage or dollar obligations, and thus an additional bond is essential to adequately protect the warehouseman's depositors. Upon such a determination, the director shall require to be filed, within a reasonable period, as determined by the director, an additional bond in such amount as the director deems to be necessary to assure protection to the warehouseman's depositors.

2. The amount of the additional bond required under this section shall not exceed the amount necessary to fulfill the storage and dollar obligation which the warehouseman has failed or is unable to meet.

(L. 1977 S.B. 75 5)

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