Title 69 — WAREHOUSES
2 chapters · 89 sections in this title.
Idaho Code § 69-251 Payment of purchase price
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69-251. Payment of purchase price. A warehouseman shall pay to the depositor the purchase price for agricultural commodities upon deposit or demand by the depositor, but not later than thirty (30) days after deposit unless otherwise agreed by the parties in writing. As used in th…
Idaho Code § 69-255 Short title — Indemnity fund program
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69-255. Short title — Indemnity fund program. (1) The provisions of this section and sections 69-256 through 69-267, Idaho Code, together with any definitions in this chapter, constitute the "Commodity Indemnity Fund Program." (2) The commodity indemnity fund program shall apply …
Idaho Code § 69-256 Creation of indemnity fund — Uses
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69-256. Creation of indemnity fund — Uses. (1) There is hereby established within the dedicated fund a fund to be known as the commodity indemnity fund. The commodity indemnity fund shall consist of assessments remitted by producers pursuant to the provisions of this chapter and …
Idaho Code § 69-257 Assessment — Rate — Minimum and maximum assessment
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69-257. Assessment — Rate — Minimum and maximum assessment. (1) Every producer shall pay an assessment to the department for deposit in the commodity indemnity fund according to the provisions of this chapter and rules promulgated by the department to implement the provisions of …
Idaho Code § 69-258 Collection and remittance of assessments — Principal amount held in trust — Interest earned — Failure to collect or remit assessments constitutes a violation — Interest and penalties for unpaid assessments
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69-258. Collection and remittance of assessments — Principal amount held in trust — Interest earned — Failure to collect or remit assessments constitutes a violation — Interest and penalties for unpaid assessments. (1) The department shall promulgate rules to provide a procedure …
Idaho Code § 69-259 Funding and limits of fund
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69-259. Funding and limits of fund. The maximum amount of the commodity indemnity fund shall be maintained between ten million dollars ($10,000,000) and twelve million dollars ($12,000,000).
Idaho Code § 69-260 Financial difficulties — Additional bond or security required
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69-260. Financial difficulties — Additional bond or security required. The department may, when it has reason to believe that a licensee does not have the ability to pay producers for commodities purchased, or when it determines that the licensee does not have a sufficient net wo…
Idaho Code § 69-261 Advisory committee — Terms — Compensation
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69-261. Advisory committee — Terms — Compensation. (1) There is hereby created a commodity indemnity fund advisory committee consisting of nine (9) members to be appointed by the director. Appointments shall be for up to three (3) year terms, each term ending on the same day of t…
Idaho Code § 69-262 Proof of claims — Procedure — Hearing — Inspection of warehouse
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69-262. Proof of claims — Procedure — Hearing — Inspection of warehouse. In the event a warehouse or dealer fails, as defined in section 69-202(8), Idaho Code, the department shall process the claims of producers who have paid or owe assessments as required by this chapter. Claim…
Idaho Code § 69-263 Failure to file — Loss of claim on fund
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69-263. Failure to file — Loss of claim on fund. If a producer, after notification, refuses or neglects to file in the office of the director his verified claim against a warehouseman or dealer as requested by the director within ninety (90) days from the date of the notice, the …
Idaho Code § 69-264 Minimum balance — Subsequent payments
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69-264. Minimum balance — Subsequent payments. The minimum balance in the commodity indemnity fund, which shall be used exclusively for purposes of paying claimants pursuant to this chapter and chapter 5, title 69, Idaho Code, shall be two hundred fifty thousand dollars ($250,000…
Idaho Code § 69-266 Payment from fund — Debt of warehouseman or dealer or surety — Reimbursement — Accrual of cause of action
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69-266. Payment from fund — Debt of warehouseman or dealer or surety — Reimbursement — Accrual of cause of action. Amounts paid from the commodity indemnity fund in satisfaction of any approved claim shall constitute a debt and obligation of the warehouseman, dealer, or surety ag…
Idaho Code § 69-267 Claim against warehouseman or dealer — Director’s remedies
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69-267. Claim against warehouseman or dealer — Director’s remedies. The department may deny, suspend, or revoke the license of any warehouseman or dealer against whom a claim has been made, approved, and paid from the commodity indemnity fund. Proceedings for the denial, suspensi…