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Wisconsin Statutes Trade Regulations (Ch. 125 to 139) § 126.14. Contributing grain dealers; disqualification

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

(1) Contribution required. A grain dealer who is required to be licensed under s. 126.11(1) shall pay fund assessments under s. 126.15 unless the grain dealer is disqualified under sub. (2). A grain dealer who is voluntarily licensed under s. 126.11 may pay voluntary assessments under s. 126.15, unless the grain dealer is disqualified under sub. (2).

(2) Disqualified grain dealer. (a) A grain dealer who is required to file security under s. 126.16(1)(a) is disqualified from the fund until the department determines that one of the conditions in s. 126.16(8)(a)1. and 2. is satisfied.

(b) A grain dealer is disqualified from the fund if any of the following occurs:

1. The department denies, suspends, or revokes the grain dealer's license.

2. The department issues an order under s. 126.85 disqualifying the grain dealer from the fund.

(3) Payments by disqualified grain dealer. (a) The department may not return to a disqualified grain dealer any fund assessments that the grain dealer paid as a contributing grain dealer.

(b) A disqualified grain dealer remains liable for any unpaid fund installment under s. 126.15 that became due while the grain dealer was a contributing grain dealer. A disqualified grain dealer is not liable for any fund installment that becomes due after the grain dealer is disqualified under sub. (2).

(4) Notice to producers. A grain dealer who is disqualified from the fund shall immediately give written notice of that disqualification to all grain producers and producer agents to whom the grain dealer has unpaid contract obligations for producer grain produced in this state. The department may by rule or order specify the form and content of the notice.

(5) Disqualified grain dealer to pay cash on delivery. A grain dealer who is disqualified from the fund shall pay cash on delivery for all producer grain procured in this state.

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Cite this article: FindLaw.com - Wisconsin Statutes Trade Regulations (Ch. 125 to 139) § 126.14. Contributing grain dealers; disqualification - last updated January 01, 2025 | https://codes.findlaw.com/wi/trade-regulations-ch-125-to-139/wi-st-126-14/

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