411.517. 1. The warehouseman shall maintain in a place of safety ateach licensed warehouse facility current and complete records with respectto all grain delivered to, withdrawn from and received, stored or processedat that warehouse. The director may allow the warehouseman to maintainsaid records at the warehouseman's headquarters office on a case-by-casebasis taking into consideration the location from which grain payments aremade. Such records shall include but not be limited to the following:
(1) A perpetual inventory showing the total quantity of each kind andclass of grain received and loaded out, the quantity of each kind and classof grain remaining in the warehouse and the total storage obligations foreach kind and class of grain. This record shall be kept current as of theclose of each business day; except that, if no transaction takes placeduring a business day, a record showing the actual status as to quantityand storage obligations at the close of the next preceding business dayduring which recordable transactions occurred shall be deemed to becurrent;
(2) A register which records all grain transactions not evidenced bythe warehouseman's own scale ticket, i.e., direct farm to market shipments.This register shall be updated daily showing, at a minimum, customer name,type of grain, quantity of grain, date of shipment, name of terminal orother business accepting the physical commodity, destination scale ticketnumber and whether the grain was delivered for storage, sale or otherspecified purpose;
(3) A current copy of the periodic insurance report submitted to theinsurer.
2. In addition to the records required by section 411.383 andsubsection 1 of this section, the warehouseman shall maintain such adequatefinancial records as will clearly reflect his current financial positionand will clearly support any financial information required to be submittedto the director from time to time.
3. Each grain warehouseman may also be required to keep such recordsor make such reports as deemed necessary by the director to protect thedepositor or seller of grain as set forth in this chapter and theregulations promulgated hereunder.
4. All books, records and accounts of warehousemen shall be kept andheld available for examination for a period of not less than three yearsafter the close of the period for which such book or record was required;except that, canceled or voided warehouse receipts and the warehousereceipt register required by section 411.383 shall be kept and heldavailable for examination for a period of not less than six years from thedate of cancellation or voiding of receipts or, in the case of theregister, from the last date upon which a receipt referred to therein shallhave been canceled or voided.
5. A warehouseman licensed or required to be licensed under thischapter shall keep available for examination all books, records andaccounts required by this chapter and any other books, records and accountsrelevant to his operating a public grain warehouse. An examination may beperformed by the director or a warehouse auditor, and may take place at anytime during the normal business hours of the warehouseman or, if priornotice of the examination is given to the warehouseman, at such time as isprescribed in that notice.
6. Any warehouseman licensed or required to be licensed under thischapter, or any officer, agent, employee, servant or associate of suchwarehouseman, who files with the director false records, scale tickets,financial statements, accounts, or withholds records, scale tickets,financial statements or accounts from the director, or who alters records,scale tickets, financial statements or accounts in order to concealoutstanding storage obligations or to conceal actual amounts of grainreceived for storage or for purchase, whether or not paid for, or toconceal warehouse obligations or for the purpose of misleading in any waydepartment warehouse auditors or officials, is guilty of a class C felony.
411.517. 1. The warehouseman shall maintain in a place of safety ateach licensed warehouse facility current and complete records with respectto all grain delivered to, withdrawn from and received, stored or processedat that warehouse. The director may allow the warehouseman to maintainsaid records at the warehouseman's headquarters office on a case-by-casebasis taking into consideration the location from which grain payments aremade. Such records shall include but not be limited to the following:
(1) A perpetual inventory showing the total quantity of each kind andclass of grain received and loaded out, the quantity of each kind and classof grain remaining in the warehouse and the total storage obligations foreach kind and class of grain. This record shall be kept current as of theclose of each business day; except that, if no transaction takes placeduring a business day, a record showing the actual status as to quantityand storage obligations at the close of the next preceding business dayduring which recordable transactions occurred shall be deemed to becurrent;
(2) A register which records all grain transactions not evidenced bythe warehouseman's own scale ticket, i.e., direct farm to market shipments.This register shall be updated daily showing, at a minimum, customer name,type of grain, quantity of grain, date of shipment, name of terminal orother business accepting the physical commodity, destination scale ticketnumber and whether the grain was delivered for storage, sale or otherspecified purpose;
(3) A current copy of the periodic insurance report submitted to theinsurer.
2. In addition to the records required by section 411.383 andsubsection 1 of this section, the warehouseman shall maintain such adequatefinancial records as will clearly reflect his current financial positionand will clearly support any financial information required to be submittedto the director from time to time.
3. Each grain warehouseman may also be required to keep such recordsor make such reports as deemed necessary by the director to protect thedepositor or seller of grain as set forth in this chapter and theregulations promulgated hereunder.
4. All books, records and accounts of warehousemen shall be kept andheld available for examination for a period of not less than three yearsafter the close of the period for which such book or record was required;except that, canceled or voided warehouse receipts and the warehousereceipt register required by section 411.383 shall be kept and heldavailable for examination for a period of not less than six years from thedate of cancellation or voiding of receipts or, in the case of theregister, from the last date upon which a receipt referred to therein shallhave been canceled or voided.
5. A warehouseman licensed or required to be licensed under thischapter shall keep available for examination all books, records andaccounts required by this chapter and any other books, records and accountsrelevant to his operating a public grain warehouse. An examination may beperformed by the director or a warehouse auditor, and may take place at anytime during the normal business hours of the warehouseman or, if priornotice of the examination is given to the warehouseman, at such time as isprescribed in that notice.
6. Any warehouseman licensed or required to be licensed under thischapter, or any officer, agent, employee, servant or associate of suchwarehouseman, who files with the director false records, scale tickets,financial statements, accounts, or withholds records, scale tickets,financial statements or accounts from the director, or who alters records,scale tickets, financial statements or accounts in order to concealoutstanding storage obligations or to conceal actual amounts of grainreceived for storage or for purchase, whether or not paid for, or toconceal warehouse obligations or for the purpose of misleading in any waydepartment warehouse auditors or officials, is guilty of a class C felony.
411.517. 1. The warehouseman shall maintain in a place of safety ateach licensed warehouse facility current and complete records with respectto all grain delivered to, withdrawn from and received, stored or processedat that warehouse. The director may allow the warehouseman to maintainsaid records at the warehouseman's headquarters office on a case-by-casebasis taking into consideration the location from which grain payments aremade. Such records shall include but not be limited to the following:
(1) A perpetual inventory showing the total quantity of each kind andclass of grain received and loaded out, the quantity of each kind and classof grain remaining in the warehouse and the total storage obligations foreach kind and class of grain. This record shall be kept current as of theclose of each business day; except that, if no transaction takes placeduring a business day, a record showing the actual status as to quantityand storage obligations at the close of the next preceding business dayduring which recordable transactions occurred shall be deemed to becurrent;
(2) A register which records all grain transactions not evidenced bythe warehouseman's own scale ticket, i.e., direct farm to market shipments.This register shall be updated daily showing, at a minimum, customer name,type of grain, quantity of grain, date of shipment, name of terminal orother business accepting the physical commodity, destination scale ticketnumber and whether the grain was delivered for storage, sale or otherspecified purpose;
(3) A current copy of the periodic insurance report submitted to theinsurer.
2. In addition to the records required by section 411.383 andsubsection 1 of this section, the warehouseman shall maintain such adequatefinancial records as will clearly reflect his current financial positionand will clearly support any financial information required to be submittedto the director from time to time.
3. Each grain warehouseman may also be required to keep such recordsor make such reports as deemed necessary by the director to protect thedepositor or seller of grain as set forth in this chapter and theregulations promulgated hereunder.
4. All books, records and accounts of warehousemen shall be kept andheld available for examination for a period of not less than three yearsafter the close of the period for which such book or record was required;except that, canceled or voided warehouse receipts and the warehousereceipt register required by section 411.383 shall be kept and heldavailable for examination for a period of not less than six years from thedate of cancellation or voiding of receipts or, in the case of theregister, from the last date upon which a receipt referred to therein shallhave been canceled or voided.
5. A warehouseman licensed or required to be licensed under thischapter shall keep available for examination all books, records andaccounts required by this chapter and any other books, records and accountsrelevant to his operating a public grain warehouse. An examination may beperformed by the director or a warehouse auditor, and may take place at anytime during the normal business hours of the warehouseman or, if priornotice of the examination is given to the warehouseman, at such time as isprescribed in that notice.
6. Any warehouseman licensed or required to be licensed under thischapter, or any officer, agent, employee, servant or associate of suchwarehouseman, who files with the director false records, scale tickets,financial statements, accounts, or withholds records, scale tickets,financial statements or accounts from the director, or who alters records,scale tickets, financial statements or accounts in order to concealoutstanding storage obligations or to conceal actual amounts of grainreceived for storage or for purchase, whether or not paid for, or toconceal warehouse obligations or for the purpose of misleading in any waydepartment warehouse auditors or officials, is guilty of a class C felony.
