La. Admin. Code tit. 7 § XXVII-141

Current through Register Vol. 50, No. 11, November 20, 2024

Section XXVII-141 - Records Required to be Maintained

A. Each grain dealer, cotton merchant and warehouse shall maintain the following records, when applicable to the commodity stored or traded, on a current basis in the company's principal office in this state at all times:

1. current financial statement;

2. bank statements;

3. bank reconciliations;

4. broker's statements;

5. current listing of unpriced commodities;

6. sequential record of all scale tickets;

7. sequential record of all warehouse receipts;

8. settlement or distribution sheets;

9. weight sheets;

10. perpetual inventory record;

11. insurance file, including copies of monthly reports to the carrier;

12. record of all assessments collected and remitted;

13. copies of all outstanding contracts;

14. copies of all outstanding notes and mortgages affecting the business;

15. a sample of each lot of grain, which contains grade factors equal to the level set forth for U.S. Sample Grade for each grain as published by the U.S. Department of Agriculture, Grain Inspection, Packers and Stockyards Administration, shall be:

a. maintained for five days from the original grade date; and

b. maintained in separate containers.

La. Admin. Code tit. 7, § XXVII-141

Promulgated by the Department of Agriculture, Office of Agro-Consumer Services, Agricultural Commodities Commission, LR 9:309 (May 1983), amended LR 12:288 (May 1986), amended by the Department of Agriculture and Forestry, Office of the Commissioner, LR 24:625 (April 1998), LR 35:2311 (November 2009), amended by the Department of Agriculture and Forestry, Agricultural Commodities Commission, LR 37:508 (February 2011), Amended by the Department of Agriculture and Forestry, Agricultural Commodities Commission, LR 46312 (3/1/2020).

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:3405, R.S. 3:3419 and R.S. 3:3414.3.