Title 75, Regulation of Trade, Commerce and Investments

In case any one to whom a warehouse receipt is issued, under the provisions of this chapter, shall negotiate, assign, transfer or pledge the same to any person, individual, firm or corporation, as security for any money, credit or other obligation, and shall thereafter pay or ten…

(a) When used in this chapter:(a) “Person” shall mean individuals, corporations, partnerships and all associations of two (2) or more persons having a joint or common interest.(b) “Commissioner” shall mean the commissioner of the Mississippi Department of Agriculture and Commerce…

The commissioner shall carry out and enforce the provisions of this chapter and is hereby empowered to promulgate rules and regulations to carry out necessary inspections and to appoint and fix the duties of his personnel and provide such equipment as may be necessary to assist h…

If, after proper application, the commissioner denies any person, partnership, association or corporation a license to operate a farm warehouse, the commissioner shall transmit immediately to the applicant by certified mail an order so providing, which shall state the reasons for…

Immediately upon receipt of his license or of any modification or extension thereof, the farm warehouseman shall post the license in a place designated by the commissioner, and thereafter keep it posted until suspended or terminated.

(1) If a farm warehouseman is convicted of any crime involving fraud or deceit, or if the commissioner determines that any farm warehouseman has violated any of the provisions of this chapter, or any of the rules and regulations adopted by the commissioner pursuant to this chapte…

(1) Before any person is granted a license pursuant to Section 75-43-3, such person shall give a bond to the commissioner executed by the farm warehouseman as principal and by a corporate surety licensed to do business in this state as a surety, such bond to be approved by the co…

(1) Any person coming under the provisions of this chapter and desiring to utilize the provisions thereof shall file with the Mississippi Department of Agriculture and Commerce, an application for a license, stating the legal description of the land, the location of the building …

(1) The amount of bond to be furnished for each farm warehouse shall be fixed at a rate of not less than twenty cents (20¢) per bushel for the first one million (1,000,000) bushels of licensed capacity; not less than fifteen cents (15¢) per bushel for the next one million (1,000,…

If an application is made for an amendment to a license and no bond previously filed by the farm warehouseman under Sections 75-43-29 and 75-43-31 covers obligations arising during the period covered by such amendment, the farm warehouseman shall file with the commissioner an add…

(1) In the absence of any contrary contractual agreement between the parties, it shall be the duty of the farm warehouseman to redeem a warehouse receipt within ten (10) days of the demand for the redemption of such receipt. Any holder of a warehouse receipt issued to a farm ware…

(1) It shall be the duty of each farm warehouseman to whom a warehouse receipt or receipts have been issued to maintain the grade of the grain which he certified in his application for a warehouse receipt, as required by Section 75-43-7. (2) If the farm warehouseman does not main…

Every farm warehouse for which there is a warehouse receipt outstanding shall be examined monthly by the commissioner. The cost of such examination shall be included in the annual license fee. The commissioner, at his discretion, may make additional examinations of any public gra…

At least one (1) actual or skeleton copy of all receipts shall be made and retained by the commissioner, and all copies shall have clearly and conspicuously printed or stamped on them the words “Copy-Not Negotiable.”

The form of all receipts shall be approved by the commissioner. The commissioner shall be authorized to have printed by the state printer all warehouse receipts to be issued by the commissioner.

If a farm warehouseman delivers only a part of a lot of grain for which a warehouse receipt has been issued, the commissioner, upon proper notice, shall take up and cancel such receipt and issue a new receipt for the undelivered portion of grain.

A farm warehouseman shall not deliver grain for which a warehouse receipt has been issued until the receipt has been returned to him and cancelled.

No warehouse receipt shall be issued, unless the grain for which it is to be issued is actually present in storage in the warehouse, nor shall any receipt be issued for a greater quantity of grain than is in storage in the warehouse, nor shall more than one (1) receipt be issued …

Any person operating a farm warehouse who desires to discontinue such operation at the expiration of his license, or whose license is suspended, revoked or cancelled by the commissioner or his designated representative, shall notify the commissioner and all holders of warehouse r…

No inspector or employee of the commissioner’s office shall disclose any information obtained by him in the course of his employment related to the affairs or transactions of any farm warehouse without first having obtained the express permission in writing of such farm warehouse…

The provisions and definitions of the Uniform Commercial Code relating to warehouse receipts, to the extent not inconsistent with this chapter, shall govern warehouse receipts issued by the commissioner under this chapter, and the other provisions of the Uniform Commercial Code s…

(1) Whoever holds a license to operate a farm warehouse, as provided for by this chapter, shall be entitled to have issued on his own grain stored in his farm warehouse or warehouses, a warehouse receipt or receipts, which shall be issued by the commissioner upon compliance with …

(1) When the application has been received by the commissioner, and the applicant has certified the grade of the grain and agreed to maintain and deliver the certified grade, as required by Section 75-43-7, the commissioner shall immediately issue the applicant a warehouse receip…