Idaho Admin. Code r. 02.02.15.037 - AMOUNT OF BOND, IRREVOCABLE LETTER OF CREDIT, CERTIFICATE OF DEPOSIT, OR SINGLE BOND
01.
Bonding
Requirement. The amount of bond to be furnished will be fixed at a rate
pursuant to Section
22-5105, Idaho Code.
(3-15-22)
02.
Single Bond,
Irrevocable Letter of Credit or Certificate of Deposit. For the purposes
of licensing as a seed buyer pursuant to Title 22, Chapter 51, Idaho Code, and
as a warehouseman pursuant to Title 69, Chapter 2, Idaho Code, or as a
commodity dealer pursuant to Title 69, Chapter 5, Idaho Code, a single bond,
irrevocable letter of credit or certificate of deposit will be fixed at
whichever of the following amounts is greater: (3-15-22)
a. Combined total indebtedness paid and owed
to producers for seed crop and agricultural commodity, without any deductions,
for the previous license year; or (3-15-22)
b. The indebtedness owed and estimated to be
owed to producers for seed crop and agricultural commodity, without any
deductions, for the current license year. (3-15-22)
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.