§87f–1 Registration requirements

Summary

People who buy grain for sale in foreign commerce, or who handle, weigh, or transport grain for sale in foreign commerce, must register with the Secretary. Four kinds of people do not have to register: those who only do these things only sometimes and are not in the regular business, producers who only occasionally sell or move grain they bought, hired carriers who do not own the grain, and buyers who buy grain to feed or process (not to resell) and only occasionally sell it as grain. Registered businesses must give the Secretary their business name and main address, the names of directors and top officers, anyone who controls the business, the main places they operate, and any other information the Secretary needs. A person "in control" means anyone who owns 10 percent or more, including ownership held by a spouse, minor children, or relatives living in the same home. The Secretary will give a certificate of registration to those who comply. The certificate must be renewed every year. If any required information changes, the holder must tell the Secretary within 30 days. No one may do the covered business without a valid, unsuspended certificate. The Secretary can suspend or cancel a certificate after a hearing under sections 554, 556, and 557 of title 5 if the person broke the chapter’s rules or was convicted under title 18 for crimes involving grain handling, weighing, or inspection. The Secretary will charge fees to cover the registration costs. Those fees go into the fund described in section 79(j).