Section 99.255. Reduced fund assessment for contributing grain warehouse keepers who also maintain security.

 

(1)   Voluntary Security. A licensed grain warehouse keeper may at any time file security with the department, regardless of whether the warehouse keeper is required to file security. Except as provided in sub. (2) , a voluntary security filing under this subsection does not relieve a grain dealer of any obligation to file security or pay fund assessments.

(2)   Reduced assessment. If, for the duration of a license year, a contributing grain warehouse keeper maintains security under sub. (1) in an amount that is at least equal to the grain warehouse keeper's estimated default exposure less the maximum fund reimbursement amount, the grain warehouse keeper's annual fund assessment under s. 126.30 , Stats., for that year is reduced by an amount that is determined as follows:

(a) Subtract the maximum fund reimbursement from the grain warehouse keeper's estimated default exposure.

(b) Divide the result in par. (a) by the grain warehouse keeper's estimated default exposure.

(c) Multiply the result in par. (b) by the amount of the grain warehouse keeper's annual fund assessment under s. 126.30 (1) , Stats., disregarding any assessment reduction under s. 126.30 (5m) , Stats.

(d) Subtract, from the result in par. (c) , the amount of any assessment reduction given under s. 126.30 (5m) , Stats.

Emerg. cr. eff. 4-29-04; CR 04-030 : cr. Register September 2004 No. 585 , eff. 10-1-04; CR: 05-068: r. and recr. (1), am. (2) (intro.) Register April 2006 No. 604 , eff. 5-1-06; correction in (2) (intro.) made under s. 13.92 (4) (b) 7. , Stats., Register June 2011 No. 666 .

Note

A grain warehouse keeper who files voluntary security under sub. (1) may be eligible for a reduction in fund assessments under sub. (2), and may be able to make a more favorable disclosure to producers under s. ATCP 99.26 (2) . Microsoft Windows NT 6.1.7601 Service Pack 1