7 USC 87f-1 - Registration requirements

U.S Code last checked for updates: Nov 23, 2024

§ 87f–1.

Registration requirements

(a)

General requirement

The Secretary shall provide, by regulation, for the registration of all persons engaged in the business of buying grain for sale in foreign commerce, and in the business of handling, weighing, or transporting of grain for sale in foreign commerce. This section shall not apply to—

(1)

any person who only incidentally or occasionally buys for sale, or handles, weighs, or transports grain for sale and is not engaged in the regular business of buying grain for sale, or handling, weighing, or transporting grain for sale;

(2)

any producer of grain who only incidentally or occasionally sells or transports grain which the producer has purchased;

(3)

any person who transports grain for hire and does not own a financial interest in such grain; or

(4)

any person who buys grain for feeding or processing and not for the purpose of reselling and only incidentally or occasionally sells such grain as grain.

(b)

Required information

(1)

All persons required to register under this chapter shall submit the following information to the Secretary:

(A)

the name and principal address of the business,

(B)

the names of all directors of such business,

(C)

the names of the principal officers of such business,

(D)

the names of all persons in a control relationship with respect to such business,

(E)

a list of locations where the business conducts substantial operations, and

(F)

such other information as the Secretary deems necessary to carry out the purposes of this chapter.

Persons required to register under this section shall also submit to the Secretary the information specified in clauses (A) through (F) of this paragraph with respect to any business engaged in the business of buying grain for sale in interstate commerce, and in the business of handling, weighing, or transporting of grain for sale in interstate commerce, if, with respect to such business, the person otherwise required to register under this section is in a control relationship.

(2)

For the purposes of this section, a person shall be deemed to be in a “control relationship” with respect to a business required to register under subsection (a) and with respect to applicable interstate businesses if—

(A)

such person has an ownership interest of 10 per centum or more in such business, or

(B)

a business or group of business entities, with respect to which such person is in a control relationship, has an ownership interest of 10 per centum or more in such business.

(3)

For purposes of clauses (A) and (B) of paragraph (2) of this subsection, a person shall be considered to own the ownership interest which is owned by his or her spouse, minor children, and relatives living in the same household.

(c)

Certificate of registration

(d)

Suspension or registration of certificate of registration

(e)

Fees

(Aug. 11, 1916, ch. 313, pt. B, § 17A, as added Pub. L. 94–582, § 22, Oct. 21, 1976, 90 Stat. 2886; amended Pub. L. 95–113, title XVI, § 1604(l), Sept. 29, 1977, 91 Stat. 1029; Pub. L. 103–156, § 12(p), Nov. 24, 1993, 107 Stat. 1529; Pub. L. 103–354, title II, § 293(a)(7), Oct. 13, 1994, 108 Stat. 3237.)

cite as: 7 USC 87f-1