203C.25 Shrinkage adjustments — disclosures — penalties.
1. A person who, in connection with the receipt of corn or soybeans for storage, processing, or sale, adjusts the scale weight of the grain to compensate for the moisture content of the grain shall compute the amount of the adjustment by multiplying the scale weight of the grain by that factor which results in a rate of adjustment of one and eighteen hundredths percent of weight per one percent of moisture content. The use of any rate of weight adjustment for moisture content other than the one prescribed by this subsection is a fraudulent practice. The person shall post on the business premises in a conspicuous place notice of the rate of adjustment for moisture content that is prescribed by this subsection. Failure to make this disclosure is a simple misdemeanor.
2. A person who, in connection with the receipt of grain for storage, processing or sale, adjusts the quantity of the grain received to compensate for losses to be incurred during the handling, processing, or storage of the grain shall post on the business premises in a conspicuous place notice of the rate of adjustment to be made for this shrinkage. Failure to make the required disclosure is a simple misdemeanor.
3. A person who adjusts the scale weight of corn or soybeans both for moisture content and for handling, processing, or storage losses may combine the two adjustment factors into a single factor and may use this resulting factor to compute the amount of weight adjustment in connection with storage, processing, or sale transactions, provided that the person shall post on the business premises in a conspicuous place a notice that discloses the moisture shrinkage factor prescribed by subsection 1, the handling shrinkage factor to be imposed, and the single factor that results from combining these factors. Failure to make the required disclosure is a simple misdemeanor.
[81 Acts, ch 180, §31]
C83, §543.25
C93, §203C.25
Structure Iowa Code
Chapter 203C - WAREHOUSES FOR AGRICULTURAL PRODUCTS
Section 203C.2 - Duties and powers of the department — operator recordkeeping.
Section 203C.3 - Appointment of department as receiver.
Section 203C.4 - Powers and duties of receiver.
Section 203C.5 - Rules — documents and forms.
Section 203C.6 - Issuance of license and financial responsibility.
Section 203C.7 - Application for the issuance or renewal of a license.
Section 203C.8 - License to specify type and quantity of products which may be stored.
Section 203C.9 - Amendment of license.
Section 203C.10 - Action affecting a license.
Section 203C.12 - Participation in fund required.
Section 203C.12A - Lien on warehouse operator assets.
Section 203C.13 - Form and amount of evidence of financial responsibility.
Section 203C.14 - Suit — claims — notice of revocation.
Section 203C.15 - Insurance required — exception.
Section 203C.16 - License required for the storage of bulk grain.
Section 203C.17 - Receiving bulk grain at licensed and unlicensed warehouses.
Section 203C.18 - Warehouse receipts — issuance, printing, and electronic filing.
Section 203C.19 - Rights and obligations with respect to warehouse receipts — lost receipts.
Section 203C.20 - Receipt by warehouse operator to self.
Section 203C.23 - Warehouse operator’s obligation.
Section 203C.24 - Confidentiality of records.
Section 203C.25 - Shrinkage adjustments — disclosures — penalties.
Section 203C.27 - Discrimination.
Section 203C.28 - Tariff rates.
Section 203C.30 - Inspecting and grading.
Section 203C.34 - Display of license.
Section 203C.35 - Licensed warehouse operator to keep records.
Section 203C.36 - Penalties — injunction.
Section 203C.36A - Civil penalties.
Section 203C.37 - Issuance of a license and payment of fees.
Section 203C.38 - No obligation of state.
Section 203C.39 - Grain stored in another warehouse.
Section 203C.40 - Prioritization of inspections of warehouse operators.