34-295a. Warehouse records and accounts; required information; authorized methods of maintaining; examination by secretary; period to be retained.
34-295a
34-295a. Warehouse records and accounts; required information;authorized methods of maintaining; examination by secretary; period to beretained.(a) Every public warehouseman conducting a warehouse under thestatutes contained in article 2 of chapter 34 of the Kansas StatutesAnnotated and amendments thereto shall keep in aplace of safety complete and correct records and accounts pertaining to thelicensed warehouse including, but not limited to:
(1) Records and accounts ofall commodities received therein and withdrawn therefrom;
(2) all unissuedreceipts and tickets in the public warehouseman's possession;
(3) all receipts and tickets issued by the public warehouseman; and
(4) the receipts and tickets returned and cancelled by thepublic warehouseman.
(b) Such accounts and records shall be sufficient to provide all informationrequired to prepare a current financial statement and other reports requiredunder subsection (b) of K.S.A. 34-228 and amendments thereto and to determinethe total net worth of the public warehouseman under subsection (c) of K.S.A.34-228, and amendments thereto. Such accounts and recordsmay be kept and maintained on paper oron computer disks, tapes or other electronically accessed media, or anycombination thereof, and shall be available for inspection and review bythe secretary or an authorized representative ofthe secretary at all times during business hours. The capabilityto provide a computer printout or other printed version of any such accountsand records that are kept and maintained on computer disks, tapes or otherelectronically accessed media shall be maintained to make copies of suchaccounts and records for examination by thesecretary or an authorized representative of the secretary.
(c) Suchrecords and accounts shall be retained by the public warehousemanfor such period as may beprescribed by the secretary. Copies of receipts or otherdocumentsevidencing ownership of any commodity or liability as a warehouseman shallbe retained so long as such documents are outstanding and any suchdocument which has been cancelled shall be retained for a period of notless than six years from the date of cancellation.
History: L. 1967, ch. 237, § 1;L. 1985, ch. 137, § 6;L. 1997, ch. 160, § 34; Sept. 1.