Iowa HF508 regulates grain marketing by licensed warehouse operators and grain dealers, including indemnity fees and loss indemnification for grain.

Iowa HF508 amends provisions regulating grain dealers and warehouse operators, including financial conditions for grain dealers purchasing grain by credit-sale contract. The bill requires grain dealers to remit indemnity fees, including participation fees and per-bushel fees, collected by the department. The bill also provides for the indemnification of grain depositors and sellers for losses following the cessation of a license or bankruptcy. The bill adjusts the triggers for waiving or reinstating indemnity fees based on the balance in the indemnity fund.

Iowa HF508 regulates grain marketing by licensed warehouse operators and grain dealers, including indemnity fees and loss indemnification for grain.

Iowa HF508 amends provisions regulating grain dealers and warehouse operators, including financial conditions for grain dealers purchasing grain by credit-sale contract. The bill requires grain dealers to remit indemnity fees, including participation fees and per-bushel fees, collected by the department. The bill also provides for the indemnification of grain depositors and sellers for losses following the cessation of a license or bankruptcy. The bill adjusts the triggers for waiving or reinstating indemnity fees based on the balance in the indemnity fund.