Skip to Navigation | Skip to Main Content | Skip to Site Map

MyFloridaHouse.gov | Mobile Site

Senate Tracker: Sign Up | Login

The Florida Senate

2022 Florida Statutes (including 2022C, 2022D, 2022A, and 2023B)

Title XXXV AGRICULTURE, HORTICULTURE, AND ANIMAL INDUSTRY
Chapter 604 GENERAL AGRICULTURAL LAWS Entire Chapter
SECTION 33
Security requirements for grain dealers.
F.S. 604.33
604.33 Security requirements for grain dealers.—Each grain dealer doing business in the state shall maintain liquid security, in the form of grain on hand, cash, certificates of deposit, or other nonvolatile security that can be liquidated in 10 days or less, or cash bonds, surety bonds, or letters of credit, that have been assigned to the department and that are conditioned to secure the faithful accounting for and payment to the producers for grain stored or purchased, in an amount equal to the value of grain which the grain dealer has received from grain producers for which the producers have not received payment. The bonds must be executed by the applicant as principal and by a surety corporation authorized to transact business in the state. The certificates of deposit and letters of credit must be from a recognized financial institution doing business in the United States. The department may make at least one spot check annually of each grain dealer to determine compliance with the requirements of this section.
History.—s. 1, ch. 84-30; s. 9, ch. 85-36; s. 1, ch. 85-65; s. 1, ch. 86-8; ss. 7, 9, 10, ch. 90-161; s. 4, ch. 91-429; s. 1003, ch. 97-103; s. 45, ch. 2016-61.