§87f–1 Registration Requirements

Summary

The Secretary must make rules to register everyone who buys grain for sale in foreign trade or who handles, weighs, or transports grain for foreign sale. The rule does not cover people who only do this occasionally, producers who only occasionally sell or transport grain they bought, hired carriers who don’t own the grain, or buyers who buy for feeding or processing and only occasionally resell. Businesses that must register must give the Secretary their name and main address, the names of directors and top officers, anyone in a control relationship, the main places they operate, and any other information the Secretary needs. They must also give the same information about any related businesses that buy or handle grain in interstate commerce if they control them. The Secretary issues a registration certificate that must be renewed each year. If information changes, the holder must notify the Secretary within 30 days. No one may do the covered foreign-grain business without a valid, unsuspended certificate. A person is in a control relationship if they—or a business group they control—own 10 percent or more of the company. Ownership by a spouse, minor children, and relatives living in the same household counts. The Secretary can suspend or revoke a certificate after a hearing if the holder breaks the rules or is convicted of an offense under title 18 involving handling, weighing, or inspection of grain. The Secretary must charge fees to cover registration costs, and those fees go into the fund described in section 79(j).