824 IAC 2-4-6 Insurance

Sec. 6. (a) Licensees shall insure, at full market value, the following: (1) All stored grain owned by depositors that is stored in licensed space. (2) All company owned grain that is: (A) grain that has been paid for; and (B) grain that has been delivered for sale but the depositor has not been paid. (b) If there is a dispute regarding either: (1) the date of loss; or (2) the market value of the grain; the parties to the dispute shall submit the issue to the director or the director's designated representative who shall hold an informal hearing to resolve the dispute. The decision of the director or the director's designated representative shall be final and binding upon all parties. (c) (Voided by P.L. 114-2025, SECTION 82, effective July 1, 2025.)