Washington § 22.09.431 - Grain indemnity fund program — Additional security.

Full text of Washington Revised Code of Washington § 22.09.431 — Grain indemnity fund program — Additional security., with citation guidance and answers to common questions.

§ 22.09.431. Grain indemnity fund program — Additional security.

The department may, when it has reason to believe that a licensee does not have the ability to pay producers for grain purchased, or when it determines that the licensee does not have a sufficient net worth to outstanding financial obligations ratio, require from the licensee the payment of an additional assessment or, at the department's option, the posting of a bond or other additional security in an amount to be prescribed by rule. The additional assessment or other security may exceed the maximum amount set forth in RCW 22.09.416. Failure of the licensee to timely pay the additional assessment or post the additional bond or other security constitutes grounds for suspension or revocation of a license issued under this chapter.
[ 1987 c 509 s 12.]

Notes

Severability—1987 c 509: See note following RCW 22.09.060.

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Frequently Asked Questions About Washington § 22.09.431

What does Revised Code of Washington § 22.09.431 cover?

Section 22.09.431 ("Grain indemnity fund program — Additional security.") is part of the Revised Code of Washington, the codified statutory law of Washington. 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 Washington § 22.09.431?

A common citation format is "Revised Code of Washington § 22.09.431" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

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No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

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