A person other than a licensed warehouse operator shall not place in storage or accept for storage any bulk grain. A person shall not place bulk grain in storage in a warehouse other than a licensed warehouse. This section shall not apply to any of the following:

1. 1. The acceptance and storage of bulk grain by a person bonded and licensed under the United States Warehouse Act.
2. 2. The storage of bulk grain by a person who owns all the stored bulk grain.

3. 3.

   1. a. The storage of bulk grain by more than one person, if all of the following apply:

      1. (1) The bulk grain was jointly produced by all persons storing the grain.
      2. (2) The bulk grain is stored on the property owned or leased by one of the persons jointly producing the grain.
      3. (3) No person other than persons jointly producing the grain owns the stored bulk grain.
   2. b. As used in this subsection, “jointly produced” includes but is not limited to grain owned by a landlord who receives a share of agricultural products as rent.

[C24, 27, 31, §9722, 9724; C35, §9751-g2; C39, §9751.02; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §543.16] C93, §203C.16 94 Acts, ch 1113, §1; 2012 Acts, ch 1095, §111; 2013 Acts, ch 90, §35