(1) It shall be the duty of the grain warehouseman to deliver grain to the holder of a warehouse receipt within ten (10) days of the demand for the redemption of such receipt. In the event the grain warehouseman fails to deliver grain to the holder of a warehouse receipt within ten (10) days of the demand the holder of the warehouse receipt may make demand of the surety for payment under the bond. The surety has the responsibility to pay within fifteen (15) days following receipt by the surety of the notice of the demand for redemption. Any holder of a warehouse receipt issued by a grain warehouseman who has made demand for redemption of such receipt, which demand was, without lawful excuse, not satisfied within ten (10) days, shall notify the commissioner in writing and the holder shall have the right to file a claim with the commissioner against the grain warehouseman and the surety on the grain warehouseman’s bond for payment of the market value of the grain represented by such warehouse receipt, such market value to be determined as of the date of the demand, plus legal interest accrued from the date of the demand. In the event the grain warehouseman is a self-insurer as provided in Section 75-44-29 the holder of a warehouse receipt shall have the right to file a claim with the commissioner against the grain warehouseman to the extent of the amount posted in lieu of the bond. The commissioner may also pay to the holder of a warehouse receipt the amount of the market value of the grain provided that the grain warehouseman agrees to such payment.
(2) (a) Upon receipt of any claim, the commissioner shall provide written notice, via certified mail, return receipt requested, to the warehouseman and the corporate surety of the claims. The notice shall be effective upon receipt of proof of delivery or a receipt marked as refused delivery. If the commissioner determines, in his or her opinion, that there are or may be other competing claims as to bond, the commissioner shall give notice to other interested parties, which shall include the holders of outstanding and uncanceled receipts and scale tickets, any person having a claim for payment under Section 75-45-311, and any other person or party claiming any rights under the bond. The notice shall be deemed complete and sufficient upon the publication once per week for three (3) consecutive weeks in a newspaper of general circulation. The commissioner shall promulgate regulations which shall govern the procedure and process to be followed in the hearing. The regulations shall, among other things, set forth the county or counties, depending on whether the licensee is a warehouseman, grain dealer, individual or corporate entity or resident or nonresident, in which publication of notice hereunder shall be made.(b) The commissioner or his or her designated representative, hereinafter “hearing officer,” shall hear evidence and determine whether a loss has occurred. Upon a determination that a loss has occurred, the hearing officer shall determine the date of the loss, the fair market value at the place of loss or in the region immediately surrounding the place of loss, whether payments should be made by the corporate surety and, if so, to what parties and in what amounts. Recovery under the bond shall be prorated by the hearing officer when the claims exceed the liability of the corporate surety under the bond. The burden of establishing the proration shall be on the corporate surety as a matter of defense. The hearing officer shall enter a written order determining the validity of claims under the bond and setting forth those claimants who are entitled to recover thereunder. The order shall be final, binding and conclusive on all interested parties. The order shall be sent by registered or certified mail to all interested parties who appeared in the hearing. Within thirty (30) days after the mailing of said order, any interested party, if dissatisfied with the order of the hearing officer, may appeal to the Chancery Court of the First Judicial District of Hinds County, Mississippi, by filing a written notice of appeal alleging the pertinent facts upon which the appeal is grounded. At the time of the filing of the appeal, the appellant shall give a bond for costs conditioned upon his or her prosecution of the appeal without delay and payment of all costs assessed against him or her. Appeal may be with supersedeas and shall be subject to the provisions of Section 11-51-31.
(a) Upon receipt of any claim, the commissioner shall provide written notice, via certified mail, return receipt requested, to the warehouseman and the corporate surety of the claims. The notice shall be effective upon receipt of proof of delivery or a receipt marked as refused delivery. If the commissioner determines, in his or her opinion, that there are or may be other competing claims as to bond, the commissioner shall give notice to other interested parties, which shall include the holders of outstanding and uncanceled receipts and scale tickets, any person having a claim for payment under Section 75-45-311, and any other person or party claiming any rights under the bond. The notice shall be deemed complete and sufficient upon the publication once per week for three (3) consecutive weeks in a newspaper of general circulation. The commissioner shall promulgate regulations which shall govern the procedure and process to be followed in the hearing. The regulations shall, among other things, set forth the county or counties, depending on whether the licensee is a warehouseman, grain dealer, individual or corporate entity or resident or nonresident, in which publication of notice hereunder shall be made.
(b) The commissioner or his or her designated representative, hereinafter “hearing officer,” shall hear evidence and determine whether a loss has occurred. Upon a determination that a loss has occurred, the hearing officer shall determine the date of the loss, the fair market value at the place of loss or in the region immediately surrounding the place of loss, whether payments should be made by the corporate surety and, if so, to what parties and in what amounts. Recovery under the bond shall be prorated by the hearing officer when the claims exceed the liability of the corporate surety under the bond. The burden of establishing the proration shall be on the corporate surety as a matter of defense. The hearing officer shall enter a written order determining the validity of claims under the bond and setting forth those claimants who are entitled to recover thereunder. The order shall be final, binding and conclusive on all interested parties. The order shall be sent by registered or certified mail to all interested parties who appeared in the hearing. Within thirty (30) days after the mailing of said order, any interested party, if dissatisfied with the order of the hearing officer, may appeal to the Chancery Court of the First Judicial District of Hinds County, Mississippi, by filing a written notice of appeal alleging the pertinent facts upon which the appeal is grounded. At the time of the filing of the appeal, the appellant shall give a bond for costs conditioned upon his or her prosecution of the appeal without delay and payment of all costs assessed against him or her. Appeal may be with supersedeas and shall be subject to the provisions of Section 11-51-31.
(3) Where a warehouseman licensed under this chapter is involved in the hearing, the claim determination provisions of this chapter are applicable to claims arising both under this chapter and Article 7, Title 75, Chapter 45, Mississippi Code of 1972.