As used in the Public Warehouse and Commodity Indemnity Act:

1. 1. "Charter" means a franchise issued to a person for the operation of a public warehouse;
2. 2. "Commodities" means nonperishable grains or seeds;
3. 3. "Depositor" means any person storing commodities with a state-chartered or federally licensed warehouse;
4. 4. "Full market value" means the value required by law to be used by insurance underwriters in paying for losses of commodities insured for their actual cash value;
5. 5. "Indemnity" means the Oklahoma Commodity Storage Indemnity Fund;
6. 6. "Loss" means any monetary reduction in value to a producer of an extraordinary nature and which shall include, but not be limited to, bankruptcy, embezzlement, theft or fraud;
7. 7. "Producer" means any person planting, raising, growing, or harvesting commodities;
8. 8. "Public warehouse" means any place where commodities are received for storage, received for transfer to other public warehouses, or both;
9. 9. "Storage" or "warehousing" means any method of holding commodities by a party other than the direct owner except for transportation ;
10. 10. "Warehouseman" means any person operating a public warehouse; and
11. 11. "Warehouse receipt" means every receipt issued by a warehouseman for commodities pursuant to the Public Warehouse and Commodity Indemnity Act.

Amended by Laws 1987, HB 1429, c. 125, § 2, emerg. eff. June 2, 1987; Amended by Laws 1988, HB 1685, c. 149, § 1, emerg. eff. May 2, 1988; Amended by Laws 1990, SB 233, c. 155, § 1, emerg. eff. May 1, 1990; Amended by Laws 1997, HB 1156, c. 10, § 1, emerg. eff. March 31, 1997 (superseded document available); Amended by Laws 2000, SB 1402, c. 243, § 84, emerg. eff. May 24, 2000 (superseded document available ).