Section 824IAC2-14-10. Surrender of warehouse receipts when license is revoked, suspended, or expired

   (a) When a license is revoked or has expired, the following shall occur:

(1) All unused warehouse receipts shall be immediately surrendered to the director or the designated representative.

(2) All receipts which have been issued that are still outstanding shall immediately be recalled, and, upon delivery of the grain, the receipts shall be marked cancelled, signed, and dated by the licensee who shall notify the director that such receipts have been recalled and cancelled.

  (b) When a license has been suspended, the director may:

(1) order all unused receipts surrendered to the agency;

(2) order all receipts which have been issued and still outstanding be recalled, and, upon delivery of the grain, the receipts shall be marked cancelled, signed, and dated by the licensee who shall notify the director that the receipts have bee [sic., been] recalled and cancelled.

(Indiana Grain Buyers and Warehouse Licensing Agency; 824 IAC 2-14-10; filed Jan 19, 2001, 3:04 p.m.: 24 IR 1666; readopted filed Nov 16, 2007, 2:00 p.m.: 20071212-IR-824070667RFA; readopted filed Nov 27, 2013, 1:30 p.m.: 20131225-IR-824130492RFA)