La. Admin. Code tit. 7 § XXXI-319

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

Section XXXI-319 - Mandatory Obligations of Licensees

A. The omission by a licensee of any of the following requirements constitutes a violation of these rules and regulations and failure to comply with same can result in suspension or revocation of license, in addition to any other penalty provided by law or these rules and regulations.

B. Each licensee must maintain all records including financial records pertaining to all transactions subject to the Act in accordance with standards generally prevailing in industry for a period of not less than two years. Said records shall be kept in a manner that permits prompt access to all such records and shall be kept in a manner that facilitates the determination by audit of, which costs are allocable to which products and, shall include but not be limited to the following records:

1. expenses incurred and paid;

2. expenses accrued;

3. depreciation schedules;

4. production schedules; and

5. documentation of circumstances relating to price changes for purposes of meeting competition.

C. In order to enforce the provisions of the Act and these rules and regulations, the commissioner may from time to time audit the books and records of licensees, and each licensee shall permit access to his financial records, during normal business hours, for such audit.

D. Each licensee shall submit such additional reports concerning the sale of dairy products as may from time to time be required by the board or commissioner.

E. The monthly assessment report of sales of dairy products required under §307 shall be submitted timely.

F. The monthly assessment on sales of dairy products required by R.S. 3:4111 and §307 of these rules and regulations shall be paid timely.

La. Admin. Code tit. 7, § XXXI-319

Promulgated by the Department of Agriculture, Dairy Stabilization Board, LR 9:7 (January 1983), amended by the Department of Agriculture and Forestry, Office of Agro-Consumer Services, Diary Stabilization Board, LR 20:403 (April 1994).

AUTHORITY NOTE: Promulgated in accordance with R.S. 3:4108 (formerly R.S. 40:931.8).