Arkansas Code Title 2. Agriculture § 2-17-210. Bond amounts

(a)(1) The amount of bond to be furnished for each public grain warehouse shall be fixed at a rate of:

(2) In no case shall the amount of the bond be less than twenty thousand dollars ($20,000), except as prescribed in subsections (c) and (d) of this section.

(3) The licensed capacity shall be equal to the maximum number of bushels of grain that the public grain warehouse can accommodate for storage.

(2) The aggregate licensed capacity of all the warehouses shall be used in determining the amount of the bond.

(c)(1) Any deficiency in the net assets required by § 2-17-217 shall be supplied by an increase in the amount of the warehouseman's bond.

(2) In any other case in which the Public Grain Warehouse Commissioner finds that conditions exist which warrant requiring additional bond, there shall be added to the amount of the bond such further amount as determined to be reasonable by the commissioner.

(d)(1) The commissioner may make exceptions to the bonding requirements of this section for good cause shown upon a finding that the requirements would substantially impair the warehouseman's ability to continue operations as a public grain warehouse and that the exception will not materially affect the protection of storage receipt holders under this subchapter.

(2) The exceptions must be reviewed at least annually.