- (1) Each licensee shall display their license in a public area of the principal office of the licensee in this state. If the licensee has more than one (1) location a certificate shall be posted at each location. If the licensee operates trucks only, a certificate should be carried in each truck.
- (2) Regardless of the type record system used, it shall be maintained accurately and timely with daily updates by the licensee. All records shall be maintained for three (3) years.
- (3) All dealers shall give the producer a document indicating the weight, grade, dockage and price of the grain upon settlement.
- (4) A grain dealer shall maintain a liquid position throughout the year. There shall be no evidence of post dated checks, checks returned by a bank due to non-sufficient funds, or that a producer has been asked not to cash a grain dealer’s check until a specific date. Any evidence that indicates a non-liquid position may cause a grain dealers’ license to be suspended or revoked.
- (5) The department may require the grain dealer to provide a current profit and loss statement and balance sheet; the total bushels of grain and kind of grain sold by means of price later COMMODITY DEALER REGULATIONS CHAPTER-0080-5-13 contracts; a daily grain transaction report; a report of hedging activities; and a review of the activities of the hedging account for the past sixty (60) days. Such information shall be furnished to the department within ten (10) days of the request.
Authority: T.C.A. §§4-3-203 and 43-32-213. Administrative History: Original rule filed July 10, 1991; effective August 24, 1991. Amendment filed June 10, 1993; effective July 25, 1993.