License Application And Conditions Of Issuance

01. License Application. Application for a license to operate a warehouse under the provisions of Title 69, Chapter 2, Idaho Code, shall be on a form prescribed by the Department and include: (3-15-22) a. The full name of the person applying for the license and whether the applicant is an individual, partnership, association, corporation or other entity. (3-15-22) b. The full name of each member of the firm or partnership, or the names of the officers and directors of the company or limited liability company, association, or corporation. (3-15-22) c. The address of the principal place of business. (3-15-22) d. Information relating to any judgments against the applicants. (3-15-22) e. The location of each warehouse the applicant intends to operate and the commodities expected to be stored. (3-15-22) f. A current financial statement as specified by Section 69-206, Idaho Code. (3-15-22) g. A sketch or drawing as specified in Section 69-206, Idaho Code. (3-15-22) h. A bond as required by Section 69-208, Idaho Code. (3-15-22) i. Proof of insurance as required by Section 69-206, Idaho Code. (3-15-22) j. The license fee as prescribed by Section 69-211, Idaho Code. (3-15-22) k. Any other reasonable information the Department finds necessary to carry out the purpose and provisions of Title 69, Chapter 2, Idaho Code. (3-15-22) 02. Modification. If a licensee wishes to add additional capacity to an existing license, the Director may modify the license if all requirements of Section 69-206, Idaho Code, are met. (3-15-22) 131. AMOUNT OF BOND, IRREVOCABLE LETTER OF CREDIT, CERTIFICATE OF DEPOSIT, OR SINGLE BOND. 01. Single Bond, Irrevocable Letter of Credit or Certificate of Deposit. For the purposes of licensing as a warehouseman pursuant to Title 69, Chapter 2, Idaho Code and a seed buyer pursuant to Title 22, Chapter 51, Idaho Code a single bond, irrevocable letter of credit or certificate of deposit shall be fixed at whichever of the following amounts is greater: (3-15-22) a. Combined total indebtedness paid and owed to producers for agricultural commodity and seed crop, without any deductions, for the previous license year; or (3-15-22) b. The indebtedness owed and estimated to be owed to producers for agricultural commodity and seed crop, without any deductions, for the current license year. (3-15-22) 132. – 149. (RESERVED) IDAHO ADMINISTRATIVE CODE IDAPA 02.12.12 Department of Agriculture Bonded Warehouse Rules Section 150 Page 8