CHAPTER 1. APPLICABILITY AND DEFINITIONS
IC 26-4
ARTICLE 4. GRAIN INDEMNITY PROGRAM
IC 26-4-1
Chapter 1. Applicability and Definitions
IC 26-4-1-1
Applicability of law
Sec. 1. This article applies to a grain buyer (as defined in section
14 of this chapter).
As added by P.L.250-1995, SEC.1.
IC 26-4-1-2
Applicability of definitions
Sec. 2. The definitions in this chapter apply throughout this
article.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-3
"Agency"
Sec. 3. "Agency" refers to the Indiana grain buyers and warehouse
licensing agency established under IC 26-3-7.
As added by P.L.250-1995, SEC.1. Amended by P.L.125-1997,
SEC.56.
IC 26-4-1-4
"Board"
Sec. 4. "Board" means the governing body of the Indiana grain
indemnity corporation created by IC 26-4-3-2.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-5
"Claimant"
Sec. 5. "Claimant" means a producer that:
(1) is a participant in the grain indemnity program;
(2) possesses a claim resulting from a failure of a licensed grain
buyer or warehouse; and
(3) has a claim that has been adjudicated by the agency under
IC 26-3-7-16.5.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,
SEC.15.
IC 26-4-1-6
"Cooperative agreement"
Sec. 6. "Cooperative agreement" means an agreement made by the
board as may be reasonable and proper to carry out the provisions of
this article.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-7
"Corporation"
Sec. 7. "Corporation" means the Indiana grain indemnity
corporation established by IC 26-4-3-1.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-8
"Deferred pricing"
Sec. 8. "Deferred pricing" means a purchase by a buyer where title
to the grain passes to the buyer, in which the actual dollar price to be
paid to the seller is not to be determined at the time the grain is
received by the buyer or less than twenty-one (21) days of that
receipt.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,
SEC.16.
IC 26-4-1-9
"Director"
Sec. 9. "Director" means the director of the agency (as defined in
section 3 of this chapter).
As added by P.L.250-1995, SEC.1.
IC 26-4-1-10
"Failed" or "failure"
Sec. 10. "Failed" or "failure" means any of the following:
(1) An inability of a licensee to financially satisfy fully all
obligations due a claimant.
(2) A public declaration of a licensee's insolvency.
(3) The nonpayment of a licensee's debts in the ordinary course
of business if there is not a good faith dispute.
(4) Revocation of suspension of a licensee's license, if the
licensee has outstanding indebtedness owed to claimants.
(5) Voluntary surrender of a licensee's license, if the licensee
has outstanding indebtedness to claimants.
(6) Involuntary or voluntary bankruptcy of a licensee.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,
SEC.17.
IC 26-4-1-11
"Financial loss"
Sec. 11. "Financial loss" means a loss resulting from a producer
not being fully paid for grain that has been delivered and sold to a
grain buyer, net of any outstanding charges against the grain.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-12
"Fund"
Sec. 12. "Fund" means the Indiana grain indemnity fund
established under IC 26-4-4-1.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-13
"Grain"
Sec. 13. "Grain" means corn for all uses, popcorn, wheat, oats,
rye, soybeans, barley, sorghum, oil seeds, other agricultural
commodities as approved by the agency, and seed (as defined in
IC 26-3-7-2(22)). The term does not include canning crops for
processing, sweet corn, or flint corn.
As added by P.L.250-1995, SEC.1. Amended by P.L.173-1999,
SEC.15; P.L.1-2006, SEC.484; P.L.75-2010, SEC.18.
IC 26-4-1-14
"Grain buyer"
Sec. 14. "Grain buyer" means a person licensed under IC 26-3-7
who is engaged in Indiana in the business of buying grain from
producers.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,
SEC.19.
IC 26-4-1-15
"Grain indemnity program"
Sec. 15. "Grain indemnity program" means the system created by
this article to have the board pay money out of the fund to producers
having losses due to a failure.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-16
"Participant in the grain indemnity program"
Sec. 16. "Participant in the grain indemnity program" means a
producer who has never requested a refund under IC 26-4-5-1, or has
reentered the program under IC 26-4-5-2.
As added by P.L.250-1995, SEC.1. Amended by P.L.268-2001,
SEC.1.
IC 26-4-1-17
"Person"
Sec. 17. "Person" means a natural person, partnership, firm,
association, corporation, limited liability company, or other business
organization.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-18
"Producer"
Sec. 18. "Producer" means an owner of land, a tenant on land, or
an operator of a farm that has an interest in and receives all or any
part of the proceeds from the sale in Indiana of the grain produced.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-19
"Producer premium"
Sec. 19. "Producer premium" means the amount of money charged
to and collected from a producer under IC 26-4-4-4 that qualifies the
producer to be a part of the grain indemnity program.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-19.5
"Seed"
Sec. 19.5. "Seed", notwithstanding IC 15-15-1, means grain set
apart to be used primarily for the purpose of producing new plants.
As added by P.L.173-1999, SEC.16. Amended by P.L.2-2008,
SEC.68.
IC 26-4-1-20
"Storage loss"
Sec. 20. "Storage loss" means a loss to a storage depositor
resulting from a failed warehouse operator not fully satisfying the
warehouse operator's storage obligation to the depositor, net of any
outstanding charges against the grain.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,
SEC.20.
IC 26-4-1-21
"United States Warehouse Act"
Sec. 21. "United States Warehouse Act" means the United States
Warehouse Act, enacted August 11, 1916, as amended.
As added by P.L.250-1995, SEC.1.
IC 26-4-1-22
Repealed
(Repealed by P.L.75-2010, SEC.35.)
IC 26-4-1-23
"Warehouse"
Sec. 23. "Warehouse" means any building or other protected
enclosure in one (1) general location that is licensed or required to
be licensed under IC 26-3-7 in which grain is or may be:
(1) stored for hire;
(2) used for grain bank storage; or
(3) used to store company owned grain;
and the building or other protected enclosure is operated under one
(1) ownership and run from a single office.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,
SEC.21.
IC 26-4-1-24
"Warehouse operator"
Sec. 24. "Warehouse operator" means a person who operates a
facility or group of facilities:
(1) in which grain is or may be stored for hire; or
(2) that is used for grain bank storage;
and that is operated under one (1) ownership and run from a single
office that holds a valid license under IC 26-3-7 or the United States
Warehouse Act.
As added by P.L.250-1995, SEC.1. Amended by P.L.75-2010,
SEC.22.
IC 26-4-1-25
"Warehouse receipt"
Sec. 25. "Warehouse receipt" means any of the following:
(1) A warehouse receipt issued under the Public Grain
Warehouse and Warehouse Receipts Act in accordance with the
Uniform Commercial Code.
(2) A warehouse receipt issued under IC 26-3-7.
(3) A warehouse receipt issued under the United States
Warehouse Act.
As added by P.L.250-1995, SEC.1.