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903
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HARRY HUGHES, Governor
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(2) The Department shall place in the Indemnification
Administration Fund each year an amount not less than 2 percent
of the total amount of the assessment received in that year and
not more than $5,000.]
[13-105.
(a) The grain producer may present a claim to the
Department when:
(1) The grain producer has incurred a loss on grain
which has been delivered to a grain buyer;
(2) The grain producer has demanded payment for the
loss from the grain buyer; and
(3) No payment has been forthcoming within 10 days
after the demand.
(b) To verify his claim, the grain producer shall present a
receipt and any additional evidence of loss that the Department
might deem necessary.]
[13-106.
(a) No payments may be made from the Fund until the amount
contained in the Fund exceeds $250,000.
(b) (1) All claim payments will be made by the Department
from the Fund on February 1 following the date of claim. The
price per bushel of grain shall be established on the day of the
loss and shall be for the full market value on that day.
(2) If there are insufficient funds to cover all
claims for a certain year, payments shall be made on a pro rata
basis up to 80 percent, of the total loss of each grain producer.
If payment is not received in the amount of 80 percent of total
loss for a certain year, then such additional amounts shall be
paid as funds become available in succeeding years until
repayment of 80 percent of total loss is attained. If at any
time a producer receives payment totaling more than 80 percent of
total loss, such excess payment shall immediately be returned to
the Fund.
(3) Upon final payment of a claim to a grain producer
from the Fund, the grain producer shall subrogate his interest,
if any, to the Department in a cause of action against any and
all parties to the amount of the loss that the grain producer was
reimbursed by the Indemnity Fund.]
[13-107.
(a) (1) The grain buyer shall file a report with the
Department specifying the amount of grain received during the
period covered by the report and the amount of the assessment
based thereon. The time the report is due is as follows:
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