Tenn. Comp. R. & Regs. 0080-05-13-.05

Current through December 26, 2024

Section 0080-05-13-.05 - SECURITY REQUIREMENTS FOR INCIDENTAL COMMODITY DEALERS

Any grain dealer who purchases grain from producers only in connection with or as an incident to some other business and whose total purchase of grain from producers during any fiscal year do not exceed an aggregate dollar amount of $100,000, may satisfy the bonding requirements of the Act by filing with the dependent acceptable security at the rate of $1,000 for each $10,000 or fraction thereof of the dollar amount to be purchased, with a minimum bond or certificate of deposit of $1,000 and a current financial statement.

Original rule filed July 10, 1991; effective August 24, 1991. Amendment filed June 10, 1993; effective July 25, 1993.

Authority: T.C.A. §§ 4-3-203 and 43-32-213.