Missouri Revised Statutes
Chapter 276 - Stockyards, Grain and Produce Exchanges
Section 276.451 - Examination of application, duties of director — issuance and renewal of licenses — nontransferable — separate license for each location — suspension or revocation, grounds, duties of director, appeal, bond.

Effective - 22 Apr 1986
276.451. Examination of application, duties of director — issuance and renewal of licenses — nontransferable — separate license for each location — suspension or revocation, grounds, duties of director, appeal, bond. — 1. Upon receiving a dealer's original application for licensure, the director may make such examination and inquiries into the applicant's business, past business history, business reputation and may view all information available to the extent he deems necessary to determine that:
(1) The application is sufficient;
(2) The bond filed by the applicant is sufficient;
(3) The applicant is capable of performing the services proposed;
(4) The applicant has sufficient financial resources to guarantee payment for grain purchased;
(5) The applicant is willing and able to comply with the provisions of sections 276.401 to 276.581 and regulations promulgated hereunder;
(6) The applicant, or, if the applicant is a corporation or partnership, officer, majority shareholder, board member, or partner has not been involved in improper or illegal manipulation of grain inventories and grain purchases which involved or resulted in any losses to grain sellers within the ten-year period of time immediately preceding the date the director received the application.
2. If the director is not satisfied with the applicant's qualifications as stated in this section, the application may be denied. If the application is denied, notice shall be mailed to the applicant setting forth the reasons for the denial of the license. Within fifteen days of receipt of a notice of denial for license, the applicant may file a written application with the director for a hearing on the denial. The hearing shall be carried out in accordance with the provisions of this chapter, regulations promulgated hereunder, and chapter 536.
3. Licenses shall be renewed annually on the last day of the fifth month after the close of the dealer's fiscal year.
4. A dealer making original application for license, and fulfilling all requirements for licensing as stated in sections 276.401 to 276.581, shall be issued a license effective from the date of application and terminating on the last day of the fifth month after the close of the dealer's fiscal year.
5. A dealer's license may be renewed annually by the filing of an application on a form prescribed by the director and accompanied by a true and accurate financial statement prepared in accordance with the requirements for financial statements set forth in section 276.421.
6. A separate license shall be required for each location in which the records are normally kept and from which grain payments are made for transactions of the dealer.
7. A dealer's license is not transferable or assignable to any person, including successors in interest to the licensee.
8. The director shall not issue a license, renew a license, or allow a license to remain in effect if the dealer or applicant fails to:
(1) Comply with sections 276.401 to 276.581 and the regulations promulgated pursuant to sections 276.401 to 276.581; or
(2) Pay all required fees and assessed penalties.
9. If the holder of any grain dealer's license is convicted of any violation of sections 276.401 to 276.581, or if the director determines that any holder of such license has violated any of the provisions of such sections, or any of the rules and regulations adopted by the director under the provisions of such sections, the director may at his discretion modify, suspend, cancel, revoke, or refuse to renew the license of the holder.
10. Whenever the director shall modify, suspend, cancel, revoke or refuse to issue any license he shall prepare an order so providing which shall be signed by the director or some person designated by him, and the order shall state the reason or reasons for the modification, suspension, cancellation, revocation or refusal to issue the license. The order shall be sent by certified mail to the licensee or applicant at the address of the dealer licensed or applying for a license. Within thirty days after the mailing of the order, the licensee, if aggrieved by the order of the director, may appeal as provided in chapter 536. At the time of the filing of the appeal, the party appealing shall give a bond for costs conditioned on his prosecuting the appeal without delay and paying all costs assessed against him. In addition, the licensee shall post a bond which shall remain in effect pending final disposition of all appeals, including review by the Missouri court of appeals or Missouri supreme court, or federal review, in an amount sufficient to cover all grain purchases and grain purchase obligations of the licensee as identified by the director. The posting of such bond is jurisdictional to the circuit court's authority to entertain the appeal.
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(L. 1980 H.B. 1627 § 11, A.L. 1986 H.B. 1578)
Effective 4-22-86

Structure Missouri Revised Statutes