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Missouri Revised Statutes Title XXVI. Trade and Commerce § 411.278. Amount of bond, how computed

Current as of January 01, 2025 | Updated by Findlaw Staff

1. The amount of the bond required by section 411.275 shall be based upon the licensed capacity of the warehouse, but in no event shall such bond be less than twenty thousand dollars, and shall be based upon the following table of rates:

If the licensed capacity of the
warehouse is:

The required
bond is the greater of
$20,000 or:

Not over 200,000 bushels․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․

$10,000 plus $0.25
per bushel of licensed
capacity

Over 200,000 but not over 1,000,000․․․․․․․․․․․․․․․․․․․․․

$60,000 plus $0.20 per
bushel of excess over
200,000 bushels
of licensed capacity

Over 1,000,000 but not over 2,000,000․․․․․․․․․․․․․․․․․․․

$220,000 plus $0.15
per bushel of excess
over 1,000,000 bushels
of licensed capacity

Over 2,000,000 but not over 3,000,000․․․․․․․․․․․․․․․․․․․

$370,000 plus $0.10
per bushel of excess
over 2,000,000 bushels
of licensed capacity

Over 3,000,000․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․․

$470,000 plus $0.05
per bushel of excess
over 3,000,000 bushels
of licensed capacity

2. Notwithstanding subsection 1 of this section, no bond required under section 411.275 shall exceed one million dollars; except, in the case of a deficiency in the net worth as set forth in section 411.280, the director may require additional bond as he shall deem necessary to provide security.

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Cite this article: FindLaw.com - Missouri Revised Statutes Title XXVI. Trade and Commerce § 411.278. Amount of bond, how computed - last updated January 01, 2025 | https://codes.findlaw.com/mo/title-xxvi-trade-and-commerce/mo-rev-st-411-278/

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