Iowa Code
Chapter 203 - GRAIN DEALERS
Section 203.22 - Prioritization of inspections of grain dealers.

203.22 Prioritization of inspections of grain dealers.
The department shall develop a system to prioritize the inspections of grain dealers provided in section 203.9. The system of prioritization shall be computed each year based on the risk of loss to the grain depositors and sellers indemnity fund caused by the possible insolvency of the grain dealer. The department shall compute the risk by utilizing an available statistical model to measure the financial condition of grain dealers, and especially grain dealers who execute credit-sale contracts. Procedures for utilizing the statistical model shall be adopted by department rules. The statistical model shall be used to provide risk ratings. A risk rating shall be used as a factor by the department to prioritize its inspection schedule. The department may use a risk rating produced by the statistical model as justification to inspect the grain dealer at any time. A substantial risk of loss to the grain depositors and sellers indemnity fund caused by the possible insolvency of the grain dealer based on the statistical model shall be good cause.
92 Acts, ch 1239, §65
Referred to in §203.1, 203.9

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Structure Iowa Code

Iowa Code

Title V - AGRICULTURE

Chapter 203 - GRAIN DEALERS

Section 203.1 - Definitions.

Section 203.2 - Powers and duties of the department.

Section 203.2A - Grain purchasers who are not licensed grain dealers — special notice requirements.

Section 203.3 - License required — financial responsibility.

Section 203.4 - Participation in indemnity fund required.

Section 203.5 - License.

Section 203.6 - Fees.