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<section article="gag" article_name="Agriculture" number="13-212" title_number="13" title_name="Grain" subtitle_number="2" subtitle_name="Grain Dealers Licensing">
  <level label="a">
    <text>A license may not be issued or renewed under this subtitle until the applicant has:</text>
    <level label="1">
      <level label="i">
        <text>Filed with the Secretary a financial statement, as provided in subsection (b) of this section, establishing the net worth of the applicant’s grain business; or</text>
      </level>
      <level label="ii">
        <text>Posted a surety bond, irrevocable letter of credit, or cash guaranty at least as large as the following amounts for the different types of licenses:</text>
        <text>Type of license    Minimum amounts</text>
        <text>A        $�15,000 </text>
        <text>B        $35,000</text>
        <text>C        $100,000</text>
        <text>D        $100,000; and</text>
      </level>
    </level>
    <level label="2">
      <text>Demonstrated proof of insurance coverage as required by this subtitle.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>An applicant for a Type A or B license shall submit a financial statement that:</text>
      <level label="i">
        <text>Is prepared and signed by a person other than the applicant or a member of the applicant’s business or family;</text>
      </level>
      <level label="ii">
        <text>Establishes a net worth for the applicant; and</text>
      </level>
      <level label="iii">
        <text>Is signed by the applicant.</text>
      </level>
    </level>
    <level label="2">
      <text>A Type C or D license may not be issued or renewed under this subtitle until the applicant has:</text>
      <level label="i">
        <text>Filed with the Secretary a financial statement reviewed by a certified public accountant establishing the net worth of the applicant’s business as provided in paragraph (3) of this subsection; or</text>
      </level>
      <level label="ii">
        <text>Filed with the Secretary a letter from a certified public accountant stating that a review of the applicant’s business records shows a net worth as provided in paragraph (3) of this subsection.</text>
      </level>
    </level>
    <level label="3">
      <text>The financial statement shall indicate a minimum net worth for each type of grain dealer’s license as follows:</text>
      <text>Type of license    Minimum amounts</text>
      <text>A        $�15,000 </text>
      <text>B        $35,000</text>
      <text>C        $100,000</text>
      <text>D        $100,000</text>
    </level>
  </level>
</section>
