Interpretive Rule

PURPOSE: This rule explains the interpretation made by the Missouri Department of Agriculture of provisions contained in sections 276.401–276.582, RSMo, which may be confusing or subject to differing interpretations by interested members of the public. (1) The provisions of section 276.426(2), RSMo, are deemed to mean— (A) Payment for grain delivered and sold to a licensed grain dealer, with final price established at or prior to delivery, is covered under the grain dealer’s security; (B) Payment of the agreed-upon minimum price of any valid minimum price contract pursuant to 276.461(10), RSMo, is cov ered by the grain dealer’s security; and (C) Payment for grain delivered to a licensed grain dealer for which title has transferred to the licensed grain dealer prior to final price being established is not covered under the grain dealer’s security. Once title to grain has been transferred under a valid delayed price contract to the licensed grain dealer, the subsequent pricing of the grain is not covered under the grain dealer’s security. (2) For the purposes of determining coverage under the li censed grain dealer’s security, grain for which a check was issued as payment by a licensed grain dealer that was not paid by the grain dealer’s bank, for whatever reason, shall be as if the check was never written (priced but unpaid, deferred pay ment, delayed price, or minimum price). AUTHORITY: section 276.406, RSMo 2016.* Original rule filed March 15, 1982, effective June 11, 1982. Rescinded and readopted: Filed Oct. 25, 1999, effective June 30, 2000. Amended: Filed Jan. 9, 2026, effective Aug. 30, 2026. *Original authority: 276.406, RSMo 1980, amended 1986, 1993, 1995.