CFR > Title 7 - Agriculture > SUBTITLE B—Regulations of the Department of Agriculture > CHAPTER XIV—COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE (parts 1400 to 1499) > SUBCHAPTER B—LOANS, PURCHASES, AND OTHER OPERATIONS (parts 1410 to 1499) > PART 1423—COMMODITY CREDIT CORPORATION APPROVED WAREHOUSES > 1423.4—General requirements.

1423.4—General requirements.

(a) Unless otherwise provided in this part, approved warehouse operators must maintain a current and valid license for the kind of storage operation for which the warehouse operator seeks approval if such a license is required by State or local laws or regulations and maintain accurate and complete inventory and operating records.
(b) Approved warehouse operators may only use pre-numbered warehouse receipts, or pre-assigned ranges of numbers for electronic warehouse receipts as set forth in the agreement, and may only use pre-numbered scale tickets, if applicable, as CCC may approve.
(c) In addition, the warehouse operator must:
(1) Be in compliance with state and local laws regarding fire safety;
(2) Furnish a copy of any written lease agreement to CCC with the application. All leases are subject to CCC approval; and
(3) Have sufficient employees and management with technical qualifications and skills in the warehousing business regarding the commodities subject to the agreement.
(d) Unless otherwise provided in this part, each approved warehouse shall:
(1) Be maintained under the control of the warehouse operator;
(2) Be maintained in a good state of repair; and
(3) Maintain adequate equipment to receive, handle, store, preserve and deliver the applicable commodity.