Indiana § 26-3-7-4.7 - Relinquishment of license
Full text of Indiana Indiana Code § 26-3-7-4.7 — Relinquishment of license, with citation guidance and answers to common questions.
§ 26-3-7-4.7. Relinquishment of license
Sec. 4.7. (a) If a licensee desires to relinquish its license issued under this chapter, the licensee shall submit a written request to the director to relinquish the license. The relinquishment request must include a certification from the licensee that the licensee:
(1) has fully satisfied all payment obligations to all producers for any grain purchased by the licensee including any payment obligations under any contract, deferred pricing agreement, deferred payment agreement, or other similar legal instrument;
(2) has no outstanding storage obligations to any licensee or person;
(3) is not party to any contract, deferred pricing agreement, basis contract, hold-pay agreement, or other similar legal instrument under which grain will be delivered to the licensee; and
(4) either does not have receipts in its possession or, if the licensee has receipts in its possession, the receipts are enclosed or will be provided to the director or the director's designated representative to facilitate the recovery of unused receipts under section 30 of this chapter.
(b) The relinquishment request must include a list of all known customers of the licensee in the preceding eighteen (18) months and the last known telephone numbers and mailing addresses of each person identified.
(c) The agency shall send a notice to each known customer of the licensee from the list provided in subsection (b) for the preceding eighteen (18) months.
(d) Before the director may grant the licensee's relinquishment request the agency shall perform a closeout audit of the licensee.
As added by P.L.114-2025, SEC.9.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 26-3-7-4.7
What does Indiana Code § 26-3-7-4.7 cover?
Section 26-3-7-4.7 ("Relinquishment of license") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 26-3-7-4.7?
A common citation format is "Indiana Code § 26-3-7-4.7" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 26-3-7-4.7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.