§ 3.2-4765. License required; application; license fee and bond.
A. No person shall do business as a cotton handler without first obtaining alicense from the Commissioner.
B. Every person intending to do business as a cotton handler, shall makeapplication to the Commissioner for a license on or before July 1 of eachyear on a form provided by the Commissioner. Any license granted by theCommissioner shall expire on June 30 following the date of issuance. Theapplication shall specify:
1. An address where the applicant will receive correspondence by first-classmail;
2. Every address where the records of the cotton handler will be kept;
3. Every address, including street address, building number, and city or town:
a. In the case of a cotton gin, where the cotton will be ginned; or
b. In the case of a cotton warehouse, where the cotton will be warehoused;
4. The full name and first-class mail address, including the street, city ortown, and state, of a person who is authorized to receive service of processon behalf of the cotton handler; and
5. The form of business organization that the cotton handler will assume. Ifthe applicant will be doing business as a sole proprietorship, he shalldisclose the full name of the sole proprietor and the name under which thesole proprietor will be doing business. If the applicant will be doingbusiness as a partnership, he shall disclose the full name of each of thepartners, the name of the partnership, and the name under which thepartnership will be doing business. If the applicant will be doing businessas a corporation, he shall disclose the full name of each of the officers ofthe corporation, the name of the corporation, and the name under which thecorporation will be doing business. If the applicant will be doing businessas a limited liability company or foreign limited liability company, he shalldisclose the full name of the manager of the company, the name of thecompany, and the name under which the company will be doing business as acotton handler. If the company has no manager, the applicant shall disclosethe full names of the members of the company.
C. The applicant shall submit with the application a nonrefundableapplication fee of $50.
D. Every person submitting an application for a license as a cotton handlerwho will be doing business as a cotton gin or cotton merchant shall furnishat the time of application for a license a bond in the amount of $50,000 inaccordance with § 3.2-4767. Nothing in this subsection shall require a persondoing business as a cotton gin to be separately licensed or bonded as acotton merchant.
E. Except as otherwise provided in subsection F, every person makingapplication for a license as a cotton handler doing business as a cottonwarehouse shall furnish, at the time of application for the license, proof ofinsurance with a company licensed to do business in the Commonwealth in anamount equal to the fair market value of the maximum amount of cotton thatcan be stored in the warehouse, and a bond in the amount of $500,000 inaccordance with § 3.2-4767.
F. In lieu of satisfying the requirements of subsection E, a cotton handlerdoing business solely as a cotton warehouse may furnish proof of a validlicense issued pursuant to the United States Warehouse Act (USWA) (7 U.S.C. §241 et seq.). A cotton handler governed by this subsection shall notify theCommissioner of any change in the status of its USWA license within 24 hoursafter being notified by the U.S. Department of Agriculture.
(2000, c. 584, §§ 3.1-722.30 to 3.1-722.32; 2008, c. 860.)
§ 3.2-4765. License required; application; license fee and bond.
A. No person shall do business as a cotton handler without first obtaining alicense from the Commissioner.
B. Every person intending to do business as a cotton handler, shall makeapplication to the Commissioner for a license on or before July 1 of eachyear on a form provided by the Commissioner. Any license granted by theCommissioner shall expire on June 30 following the date of issuance. Theapplication shall specify:
1. An address where the applicant will receive correspondence by first-classmail;
2. Every address where the records of the cotton handler will be kept;
3. Every address, including street address, building number, and city or town:
a. In the case of a cotton gin, where the cotton will be ginned; or
b. In the case of a cotton warehouse, where the cotton will be warehoused;
4. The full name and first-class mail address, including the street, city ortown, and state, of a person who is authorized to receive service of processon behalf of the cotton handler; and
5. The form of business organization that the cotton handler will assume. Ifthe applicant will be doing business as a sole proprietorship, he shalldisclose the full name of the sole proprietor and the name under which thesole proprietor will be doing business. If the applicant will be doingbusiness as a partnership, he shall disclose the full name of each of thepartners, the name of the partnership, and the name under which thepartnership will be doing business. If the applicant will be doing businessas a corporation, he shall disclose the full name of each of the officers ofthe corporation, the name of the corporation, and the name under which thecorporation will be doing business. If the applicant will be doing businessas a limited liability company or foreign limited liability company, he shalldisclose the full name of the manager of the company, the name of thecompany, and the name under which the company will be doing business as acotton handler. If the company has no manager, the applicant shall disclosethe full names of the members of the company.
C. The applicant shall submit with the application a nonrefundableapplication fee of $50.
D. Every person submitting an application for a license as a cotton handlerwho will be doing business as a cotton gin or cotton merchant shall furnishat the time of application for a license a bond in the amount of $50,000 inaccordance with § 3.2-4767. Nothing in this subsection shall require a persondoing business as a cotton gin to be separately licensed or bonded as acotton merchant.
E. Except as otherwise provided in subsection F, every person makingapplication for a license as a cotton handler doing business as a cottonwarehouse shall furnish, at the time of application for the license, proof ofinsurance with a company licensed to do business in the Commonwealth in anamount equal to the fair market value of the maximum amount of cotton thatcan be stored in the warehouse, and a bond in the amount of $500,000 inaccordance with § 3.2-4767.
F. In lieu of satisfying the requirements of subsection E, a cotton handlerdoing business solely as a cotton warehouse may furnish proof of a validlicense issued pursuant to the United States Warehouse Act (USWA) (7 U.S.C. §241 et seq.). A cotton handler governed by this subsection shall notify theCommissioner of any change in the status of its USWA license within 24 hoursafter being notified by the U.S. Department of Agriculture.
(2000, c. 584, §§ 3.1-722.30 to 3.1-722.32; 2008, c. 860.)
§ 3.2-4765. License required; application; license fee and bond.
A. No person shall do business as a cotton handler without first obtaining alicense from the Commissioner.
B. Every person intending to do business as a cotton handler, shall makeapplication to the Commissioner for a license on or before July 1 of eachyear on a form provided by the Commissioner. Any license granted by theCommissioner shall expire on June 30 following the date of issuance. Theapplication shall specify:
1. An address where the applicant will receive correspondence by first-classmail;
2. Every address where the records of the cotton handler will be kept;
3. Every address, including street address, building number, and city or town:
a. In the case of a cotton gin, where the cotton will be ginned; or
b. In the case of a cotton warehouse, where the cotton will be warehoused;
4. The full name and first-class mail address, including the street, city ortown, and state, of a person who is authorized to receive service of processon behalf of the cotton handler; and
5. The form of business organization that the cotton handler will assume. Ifthe applicant will be doing business as a sole proprietorship, he shalldisclose the full name of the sole proprietor and the name under which thesole proprietor will be doing business. If the applicant will be doingbusiness as a partnership, he shall disclose the full name of each of thepartners, the name of the partnership, and the name under which thepartnership will be doing business. If the applicant will be doing businessas a corporation, he shall disclose the full name of each of the officers ofthe corporation, the name of the corporation, and the name under which thecorporation will be doing business. If the applicant will be doing businessas a limited liability company or foreign limited liability company, he shalldisclose the full name of the manager of the company, the name of thecompany, and the name under which the company will be doing business as acotton handler. If the company has no manager, the applicant shall disclosethe full names of the members of the company.
C. The applicant shall submit with the application a nonrefundableapplication fee of $50.
D. Every person submitting an application for a license as a cotton handlerwho will be doing business as a cotton gin or cotton merchant shall furnishat the time of application for a license a bond in the amount of $50,000 inaccordance with § 3.2-4767. Nothing in this subsection shall require a persondoing business as a cotton gin to be separately licensed or bonded as acotton merchant.
E. Except as otherwise provided in subsection F, every person makingapplication for a license as a cotton handler doing business as a cottonwarehouse shall furnish, at the time of application for the license, proof ofinsurance with a company licensed to do business in the Commonwealth in anamount equal to the fair market value of the maximum amount of cotton thatcan be stored in the warehouse, and a bond in the amount of $500,000 inaccordance with § 3.2-4767.
F. In lieu of satisfying the requirements of subsection E, a cotton handlerdoing business solely as a cotton warehouse may furnish proof of a validlicense issued pursuant to the United States Warehouse Act (USWA) (7 U.S.C. §241 et seq.). A cotton handler governed by this subsection shall notify theCommissioner of any change in the status of its USWA license within 24 hoursafter being notified by the U.S. Department of Agriculture.
(2000, c. 584, §§ 3.1-722.30 to 3.1-722.32; 2008, c. 860.)
