Louisiana § RS 3:3410.1 - License to buy or sell agricultural commodities; posting requirements for grain dealers; duration of license

§ RS 3:3410.1. License to buy or sell agricultural commodities; posting requirements for grain dealers; duration of license

            A. No person shall engage in the business of buying or selling agricultural commodities from producers unless licensed by the commission, except a person that qualifies as a noncommercial grain buyer.

            B. Each applicant for a grain dealer license shall file the application described in R.S. 3:3408 and demonstrate its competency to engage in the business of buying or selling agricultural commodities prior to licensure.

            C. Each license issued by the commission pursuant to this Section shall specify on the face thereof that it is a grain dealer license, and shall be posted by the licensee in its principal place of business in this state.

            D. Each license issued by the commission shall be valid until June thirtieth following the date of issue and shall be renewed on or before July first of each year.

            E. The fee for issuance and renewal of each license shall be two hundred dollars.

            F. Each grain dealer who issues grades for grain shall employ a grain grader and sampler who is certified to grade and sample the grains for which the grain dealer issues grades.

            G. Any noncommercial grain buyer, or other person not licensed as a grain dealer, shall post notification in a conspicuous area on their premises, and on any document used in the purchase of grain, including contracts and receipts, that they are not a licensed grain dealer, and any producer selling grain to an unlicensed person is not eligible to make a claim with the Grain and Cotton Indemnity Fund.

            Acts 1986, No. 1068, §1, eff. July 17, 1986; Acts 1997, No. 1034, §1; Acts 2009, No. 24, §1, eff. June 12, 2009; Acts 2015, No. 430, §1; Acts 2020, No. 151, §1.