Indiana Code Title 26. Commercial Law § 26-3-7-27.5

(1) “Unencumbered assets” means a licensee's unencumbered assets as demonstrated by the agency's inspection of the licensee's books and records.

(2) “Unpaid balance of grain payables” means a licensee's unpaid balance of grain payables demonstrated by the agency's inspection of the licensee's books and records.

(1) the director or the director's designated representative shall issue a notice of deficiency to the licensee;  and

(2) the licensee shall cure the unencumbered asset deficiency within ninety (90) days from the receipt of the notice.

(1) Company owned grain.

(2) Cash on hand.

(3) Cash held on account in federally or state licensed financial institutions or in lending institutions of the Federal Farm Credit Administration.

(4) Investments held in time accounts with federally or state licensed financial institutions.

(5) Direct obligations of the United States government.

(6) Balances in grain margin accounts determined by marking to market.

(7) Balances due or to become due to the licensee on deferred pricing contracts.

(8) Marketable securities, including mutual funds.

(9) Irrevocable letters of credit that:

(10) Deferred pricing contract service charges due or to become due to the licensee.

(11) Other evidence of proceeds from or of grain that is acceptable to the agency.

(12) Seed inventory.

(13) Other assets that the agency may include in rules adopted under section 38 of this chapter.

(1) a consent agreement that requires the licensee to take certain actions within a set period, not to exceed twelve (12) months, to remedy the current unencumbered assets deficiency, as the director deems necessary and appropriate;  or

(2) an order that revokes the license or licenses of the licensee.

(1) does not meet the requirements in subsection (e)(1), the director shall revoke;  or

(2) has an unencumbered asset deficiency that has continued to decline, the director may revoke;