A warehouse operator shall maintain complete and sufficient
records to show all deposits, purchases, sales, storage obligations and
loadouts of the warehouse.
(1)
Maintaining warehouse receipts. Unused warehouse receipts
shall be maintained in numerical order. The warehouse operator's copy (yellow)
of outstanding warehouse receipts and the original copy (white) of warehouse
receipts canceled since the previous examination shall be maintained in
separate numerical sequences.
(2)
Daily position record. The daily position record shall
summarize one month's activity in a format approved by the bureau. The daily
position record shall indicate at least the increases and decreases and ending
balances on a daily basis for total stocks, open storage, warehouse-receipted,
unpaid company-owned, and paid company-owned, and shall indicated the ending
balance of total company-owned. The daily position record shall reflect the
obligations in the appropriate columns. A separate daily position record shall
be maintained:
a. For each kind and class of
grain; and
b. For each type of
commodity that is identity-preserved in licensed facilities.
All daily entries to the daily position record shall reflect
transactions made through that day's close of business unless another time of
day is elected by the licensee and applied by the licensee on a consistent
basis.
(3)
Scale tickets. Unless the warehouse operator utilizes a
computer system which sequentially numbers and prints scale weight tickets,
every warehouse operator shall have prenumbered scale tickets.
Every scale ticket shall show, at a minimum, the
following:
a. The warehouse operator's
name and location where the grain was delivered;
b. Date;
c. Depositor's name;
d. Gross weight, tare weight, and delivered
weight;
e. Type of product or
commodity; and
f. An indication of
whether product or commodity is being received or loaded out.
A copy of each ticket shall be maintained in numerical order by
the warehouse operator as part of the records, unless the warehouse operator
uses a computer system which sequentially numbers and prints scale tickets and
the scale ticket information can be retrieved and reprinted by the computer
system. Such systems must be approved in writing by the warehouse bureau. A
scale ticket printed at the time of weighing shall be the document of record.
All copies of reprinted scale tickets shall be marked "duplicate." All scale
ticket forms in the possession of a warehouse operator shall have been
permanently and consecutively numbered at the time of printing. The licensee
shall be responsible for providing a list of all scale tickets used at each
location.
(4)
Settlement sheets. Unless the warehouse operator utilizes a
computer system which sequentially numbers and prints settlement sheets as
generated, every warehouse operator shall have prenumbered settlement sheets.
All settlement sheets shall show, at a minimum, the following:
a. The warehouse operator's name and
location;
b. The seller's name and
address;
c. Date(s) of
deliveries;
d. Scale ticket
numbers;
e. Amount, kind and grade
factors of the grain; and
f. Method
of settlement:
(1) If priced, the price per
bushel, the quantity of grain priced and the date of pricing.
(2) If paid for, the date, price per bushel,
the quantity of grain paid for, the amount of payment and check number or
electronic funds transfer number.
(3) If credit-sale contract, the contract
type, date and number and the quantity of grain transferred to the
contract.
(4) If warehouse receipt,
the receipt number, date of issuance and quantity of grain transferred to the
receipt.
(5) If removed from the
warehouse, the delivery document numbers, dates and amounts of the shipments.
Copies of all settlement sheets shall be maintained in
numerical or alphabetical order by the warehouse operator as part of the
records, unless the warehouse operator uses a computer system approved in
writing by the bureau which sequentially numbers and prints settlement sheets
and the settlement sheets can be retrieved on and reprinted by the computer
system. A copy of the settlement sheet shall be given to the depositor upon
demand, upon the issuance of a credit-sale contract, upon the issuance of a
warehouse receipt or upon the completion of returning the commodity to the
depositor. Any settlement sheet used in the pricing of grain for the purpose of
sale to the warehouse operator shall have the price shown on all copies of such
settlement sheet. Deliveries and settlement transactions shall be posted to the
settlement sheet on a daily basis unless a computer system utilized can
generate a scale ticket summary sheet for each depositor.
(5)
Multiple locations. If
the licensee operates multiple locations under one license, the branch
locations may maintain a separate series of the following documents:
a. Scale tickets;
b. Settlement sheets;
c. Credit-sale contracts;
d. Warehouse receipts; and
e. Checks.
However, upon issuance, the warehouse operator's copy (yellow)
of all warehouse receipts and a copy of each credit-sale contract shall be
returned to the main location.
(6)
Inspection. For the
purpose of inspection, the hours of 8 a.m. to 5 p.m., except Saturday, Sunday
and holidays, shall be considered as ordinary business hours. All financial
records, grain records and payment records shall be available for inspection by
the bureau during ordinary business hours and any other time specified by the
bureau in writing. All records shall be made available within the state of Iowa
upon request.
(7)
Retention
of records. All records shall be kept for a period of not less than
six years. Such records shall be kept for the stated time period even if a
license has expired or has been canceled or revoked.
(8)
Grade factors on scale
tickets. All grade factors for determining the quality and grade of
grain in accordance with the Official United States Standards for Grain shall
be documented on scale tickets or supplemental records at time of deposit.
This rule is intended to implement Iowa Code sections
203C.2, 203C.17, and
203C.35.
Notes
Iowa Code r.
21-90.17
ARC 9388B, IAB
2/23/11, effective 3/30/11
ARC 9388B, lAB 2/23/11,
effective 3/30/11
