Subject 40-25-2 LICENSE REQUIREMENTS

Rule 40-25-2-.01 License

Eligibility. Every grain dealer, prior to transacting business within the State of Georgia, shall come under the provisions of the Act by complying with the provisions of the Act and the rules and regulations thereunder. Upon such compliance, any person may be issued a license to operate as a Grain Dealer, as provided in such license, except that no State Warehouse Director, employee or examiner shall be interested financially, directly or indirectly in any Grain Dealer licensed by the State of Georgia.

(2)

Requirements:

(a)	To qualify for license under the Georgia State Grain Dealer Act, each applicant must submit or provide: complete application, financial statement and a grain dealer bond. Certified Public Weigher's bond, fees for licenses and seals, are required if the dealer is equipped with suitable scales.

(b)	Applications for the annual renewal of license will be submitted to the Director at least thirty days prior to July 1^st of each year.

(c)	Bond requirements will be provided in O.C.G.A. 2-9-34.

(d)	Financial statement requirements will be as provided in O.C.G.A. 2-9-32(b). In the event the net worth of the financial statement is not as much as the minimum bond requirement of the Act, additional bond equal to twice the difference must be provided within 60 days following notification.

(e)

For license renewal, financial statements shall be submitted annually, no latter than 60 days following the applicant's financial year close. Applicants who cannot meet this requirement may apply to the Commissioner for a temporary waiver of this provision. Any such waiver granted shall not exceed 180 days following the applicant's fiscal year close.

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