CHAPTER 1. APPLICABILITY AND DEFINITIONS

IC 26-4
    ARTICLE 4. GRAIN INDEMNITY PROGRAM

IC 26-4-1
    Chapter 1. Applicability and Definitions

IC 26-4-1-1
Applicability of law
    Sec. 1. This article applies to a grain buyer (as defined in section14 of this chapter).
As added by P.L.250-1995, SEC.1.

IC 26-4-1-2
Applicability of definitions
    Sec. 2. The definitions in this chapter apply throughout thisarticle.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-3
"Agency"
    Sec. 3. "Agency" refers to the Indiana grain buyers and warehouselicensing agency established under IC 26-3-7.
As added by P.L.250-1995, SEC.1. Amended by P.L.125-1997,SEC.56.

IC 26-4-1-4
"Board"
    Sec. 4. "Board" means the governing body of the Indiana grainindemnity corporation created by IC 26-4-3-2.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-5
"Claimant"
    Sec. 5. "Claimant" means a producer that:
        (1) is a participant in the grain indemnity program;
        (2) possesses a claim resulting from a failure of a licensed grainbuyer or warehouse; and
        (3) has a claim that has been adjudicated by the agency underIC 26-3-7-16.5.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,SEC.15.

IC 26-4-1-6
"Cooperative agreement"
    Sec. 6. "Cooperative agreement" means an agreement made by theboard as may be reasonable and proper to carry out the provisions ofthis article.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-7 "Corporation"
    Sec. 7. "Corporation" means the Indiana grain indemnitycorporation established by IC 26-4-3-1.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-8
"Deferred pricing"
    Sec. 8. "Deferred pricing" means a purchase by a buyer where titleto the grain passes to the buyer, in which the actual dollar price to bepaid to the seller is not to be determined at the time the grain isreceived by the buyer or less than twenty-one (21) days of thatreceipt.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,SEC.16.

IC 26-4-1-9
"Director"
    Sec. 9. "Director" means the director of the agency (as defined insection 3 of this chapter).
As added by P.L.250-1995, SEC.1.

IC 26-4-1-10
"Failed" or "failure"
    Sec. 10. "Failed" or "failure" means any of the following:
        (1) An inability of a licensee to financially satisfy fully allobligations due a claimant.
        (2) A public declaration of a licensee's insolvency.
        (3) The nonpayment of a licensee's debts in the ordinary courseof business if there is not a good faith dispute.
        (4) Revocation of suspension of a licensee's license, if thelicensee has outstanding indebtedness owed to claimants.
        (5) Voluntary surrender of a licensee's license, if the licenseehas outstanding indebtedness to claimants.
        (6) Involuntary or voluntary bankruptcy of a licensee.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,SEC.17.

IC 26-4-1-11
"Financial loss"
    Sec. 11. "Financial loss" means a loss resulting from a producernot being fully paid for grain that has been delivered and sold to agrain buyer, net of any outstanding charges against the grain.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-12
"Fund"
    Sec. 12. "Fund" means the Indiana grain indemnity fundestablished under IC 26-4-4-1.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-13
"Grain"
    Sec. 13. "Grain" means corn for all uses, popcorn, wheat, oats,rye, soybeans, barley, sorghum, oil seeds, other agriculturalcommodities as approved by the agency, and seed (as defined inIC 26-3-7-2(22)). The term does not include canning crops forprocessing, sweet corn, or flint corn.
As added by P.L.250-1995, SEC.1. Amended by P.L.173-1999,SEC.15; P.L.1-2006, SEC.484; P.L.75-2010, SEC.18.

IC 26-4-1-14
"Grain buyer"
    Sec. 14. "Grain buyer" means a person licensed under IC 26-3-7who is engaged in Indiana in the business of buying grain fromproducers.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,SEC.19.

IC 26-4-1-15
"Grain indemnity program"
    Sec. 15. "Grain indemnity program" means the system created bythis article to have the board pay money out of the fund to producershaving losses due to a failure.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-16
"Participant in the grain indemnity program"
    Sec. 16. "Participant in the grain indemnity program" means aproducer who has never requested a refund under IC 26-4-5-1, or hasreentered the program under IC 26-4-5-2.
As added by P.L.250-1995, SEC.1. Amended by P.L.268-2001,SEC.1.

IC 26-4-1-17
"Person"
    Sec. 17. "Person" means a natural person, partnership, firm,association, corporation, limited liability company, or other businessorganization.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-18
"Producer"
    Sec. 18. "Producer" means an owner of land, a tenant on land, oran operator of a farm that has an interest in and receives all or anypart of the proceeds from the sale in Indiana of the grain produced.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-19
"Producer premium"
    Sec. 19. "Producer premium" means the amount of money charged

to and collected from a producer under IC 26-4-4-4 that qualifies theproducer to be a part of the grain indemnity program.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-19.5
"Seed"
    Sec. 19.5. "Seed", notwithstanding IC 15-15-1, means grain setapart to be used primarily for the purpose of producing new plants.
As added by P.L.173-1999, SEC.16. Amended by P.L.2-2008,SEC.68.

IC 26-4-1-20
"Storage loss"
    Sec. 20. "Storage loss" means a loss to a storage depositorresulting from a failed warehouse operator not fully satisfying thewarehouse operator's storage obligation to the depositor, net of anyoutstanding charges against the grain.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,SEC.20.

IC 26-4-1-21
"United States Warehouse Act"
    Sec. 21. "United States Warehouse Act" means the United StatesWarehouse Act, enacted August 11, 1916, as amended.
As added by P.L.250-1995, SEC.1.

IC 26-4-1-22
Repealed
    (Repealed by P.L.75-2010, SEC.35.)

IC 26-4-1-23
"Warehouse"
    Sec. 23. "Warehouse" means any building or other protectedenclosure in one (1) general location that is licensed or required tobe licensed under IC 26-3-7 in which grain is or may be:
        (1) stored for hire;
        (2) used for grain bank storage; or
        (3) used to store company owned grain;
and the building or other protected enclosure is operated under one(1) ownership and run from a single office.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,SEC.21.

IC 26-4-1-24
"Warehouse operator"
    Sec. 24. "Warehouse operator" means a person who operates afacility or group of facilities:
        (1) in which grain is or may be stored for hire; or
        (2) that is used for grain bank storage;
and that is operated under one (1) ownership and run from a single

office that holds a valid license under IC 26-3-7 or the United StatesWarehouse Act.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,SEC.22.

IC 26-4-1-25
"Warehouse receipt"
    Sec. 25. "Warehouse receipt" means any of the following:
        (1) A warehouse receipt issued under the Public GrainWarehouse and Warehouse Receipts Act in accordance with theUniform Commercial Code.
        (2) A warehouse receipt issued under IC 26-3-7.
        (3) A warehouse receipt issued under the United StatesWarehouse Act.
As added by P.L.250-1995, SEC.1.