(1) A commodity handler or small-volume commodity handler operating another business in conjunction with, or in proximity to, the handler's commodity handling business shall keep a complete set of records for the commodity handling business, entirely separate and distinct from the accounts and records of that other business. The deposits of commodities for the account of another business or for commodities owned by the commodity handler or small-volume commodity handler shall be entered in the books of the commodity handler or small-volume commodity handler in the same manner as those of other depositors. For the purpose of this section, "other business" means any other separate and legally established enterprise that is distinct and separate from the legal and financial transactions of the commodity handling business.
Commodity handlers or small-volume commodity handlers shall maintain adequaterecords and systems for the filing and accounting of negotiable warehouse receipts, cancelled negotiable warehouse receipts, scale tickets, and other documents and transactions necessary or common to the commodity handling industry. A commodity handler or small-volume commodity handler shall retain cancelled negotiable warehouse receipts, copies of scale tickets, and copies of other documents evidencing ownership or ownership liability for a period of at least three years after the date of cancellation.
A commodity handler or small-volume commodity handler shall post a position report daily; however, if a daily position report poses a substantial hardship, the commissioner may authorize, in writing, a weekly position report. The position report must include, but need not be limited to, total stocks by commodities received or loaded out, forwarding of commodities to terminal storage, conversions of whole commodities to feed, negotiable warehouse receipt obligations, open storage obligations, credit sale contracts, and public-warehouse-owned commodities.
A scale ticket shall be issued for each receipt of commodities. A copy of the scaleticket shall be given to the owner. A commodity handler or small-volume commodity handler shall file the commodity handler's or small-volume commodity handler's copy with all other such copies in numerical sequence and shall file and retain voided scale tickets at the commodity handler's or small-volume commodity handler's place of business. Scale tickets shall be issued in numerical sequence. An issued scale ticket must contain the following: Sequential number; date; owner's name; commodity handler's or small-volume commodity handler's name; commodity; test weight with dockage, if applicable; grade, if assigned; gross weight; tare weight; and net weights, in the case of weights from hopper scales.
A settlement sheet shall be maintained for each owner and shall contain the following: Owner's name; scale ticket numbers; total receipts; total withdrawals; test weight; and grade, if assigned. A copy of a current settlement sheet shall be provided to the owner upon request.
Source: L. 2020: Entire article amended with relocations, (HB 20-1213), ch. 160, p. 731, § 2, effective June 29.
Editor's note: This section is similar to former § 35-36-114 as it existed prior to 2020.