Missouri Revised Statutes













Chapter 411

Missouri Grain Warehouse Law

←411.280

Section 411.281.1

411.283→

August 28, 2015

Additional bond required, when--amount, how determined.

411.281. 1. The director, after a hearing held in accordance with this

chapter and regulations promulgated hereunder, may make a determination that

the warehouseman has failed, or is unable, to meet storage or dollar

obligations, and thus an additional bond is essential to adequately protect

the warehouseman's depositors. Upon such a determination, the director shall

require to be filed, within a reasonable period, as determined by the

director, an additional bond in such amount as the director deems to be

necessary to assure protection to the warehouseman's depositors.



2. The amount of the additional bond required under this section shall

not exceed the amount necessary to fulfill the storage and dollar obligation

which the warehouseman has failed or is unable to meet.



(L. 1977 S.B. 75 § 5)







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