North Dakota Century Code Title 60. Warehousing and Deposits § 60-02-07. Public warehouse license--Fee--Financial statement
Current as of January 01, 2020 | Updated by FindLaw Staff
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A license must be obtained from the commissioner for each public warehouse in operation in this state.
1. a. All licenses issued under this section must be for a period of two years and terminate on the thirty-first day of July in the year of expiration.
b. (1) Notwithstanding the provisions of subdivision a, the commissioner shall license a warehouse annually, for the first six years of the warehouse's operation.
(2) An initial annual license application that becomes effective on or after June first does not expire until July thirty-first of the following calendar year.
2. No license may describe more than one public warehouse nor grant permission to operate any public warehouse other than the one described.
3. a. The annual license fee for a public warehouse is:
(1) Four hundred dollars for a warehouse having a maximum capacity of two hundred thousand bushels [7047.8 cubic meters];
(2) Five hundred fifty dollars for a warehouse having a capacity of more than two hundred thousand bushels [7047.8 cubic meters] but not more than five hundred thousand bushels [17619.54 cubic meters]; and
(3) Six hundred fifty dollars for a warehouse having a capacity of more than five hundred thousand bushels [17619.54 cubic meters].
b. The biennial license fee for a public warehouse is:
(1) Seven hundred dollars for a warehouse having a maximum capacity of two hundred thousand bushels [7047.8 cubic meters];
(2) One thousand dollars for a warehouse having a capacity of more than two hundred thousand bushels [7047.8 cubic meters] but not more than five hundred thousand bushels [17619.54 cubic meters]; and
(3) One thousand two hundred dollars for a warehouse having a capacity of more than five hundred thousand bushels [17619.54 cubic meters].
c. An application for an annual license renewal that is received after July fifteenth must include an additional one hundred dollar fee per warehouse. An application for a biennial license renewal that is received after July fifteenth must include an additional two hundred dollar fee per warehouse.
4. If a public warehouseman operates two or more warehouses in the same city or siding, in conjunction with each other and with the same working force, and keeps one set of books and records for all such warehouses, and issues one series of scale tickets, warehouse receipts, checks, and credit-sale contracts for the grain stored and purchased therein, only one license is required for the operation of all such warehouses. When two or more warehouses are operated under one license, the license fee is based upon the combined bushel capacity of the warehouses.
5. If required to obtain United States department of agriculture approval of the commissioner's warehouse inspection program, the commissioner may require the applicant submit a current financial statement prepared in accordance with generally accepted accounting principles. A financial statement furnished under this subsection is a confidential trade secret and is not a public record.
Cite this article: FindLaw.com - North Dakota Century Code Title 60. Warehousing and Deposits § 60-02-07. Public warehouse license--Fee--Financial statement - last updated January 01, 2020 | https://codes.findlaw.com/nd/title-60-warehousing-and-deposits/nd-cent-code-sect-60-02-07.html
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