Sec. 9. (a) At the July meeting required under IC 26-4-3-5, the board shall certify the amount of money in the fund on June 30.
(b) Except as provided in section 8(c) of this chapter, the board may not require the collection of a producer premium during a fiscal year when the board certifies under subsection (a) that the fund has money in excess of twenty million dollars ($20,000,000). If the fund is at or below twenty million dollars ($20,000,000), the board shall reinstate the collection.
As added by P.L.250-1995, SEC.1. Amended by P.L.5-2009, SEC.4; P.L.75-2010, SEC.26; P.L.60-2015, SEC.18.
Structure Indiana Code
Article 4. Grain Indemnity Program
Chapter 4. Indiana Grain Indemnity Fund
26-4-4-1. Establishment of Fund; Fiscal Year
26-4-4-2. Fund Administration Expenses
26-4-4-3. Premiums Held in Trust; Investment of Fund; Interest; Reversion
26-4-4-5. Notice of Producer Premium Deductions
26-4-4-6. Submission of Producer Premiums to Finance Fund
26-4-4-7. Inspection of Books and Records; Verification; Confidentiality
26-4-4-8. Amount of Fund; Basis for Suspension and Reinstatement of Producer Premium Collection
26-4-4-9. Certification of Fund Balance; Discretion of Board to Suspend Collection