Kentucky Grain Warehouse and Grain Dealer Bonds

Category: Uncategorized
Published: Sep 6, 2011
HB 221: Grain Warehouse and Grain Dealer Bonds

This bill will revise the bond requirements for grain warehousemen and grain dealers. Under current law a surety bond is required in the amount that is no less than twenty-five cents per bushel of the total maximum bushel capacity of the warehouse or $10,000, whichever may be greater. Under the new bill the alternative minimum amount will be increased from $10,000 to $25,000. The bond amount will be capped at no more than $1 million. The new law will also cap the bond amount that the dealer paid to producers for grain purchased from them during the dealer’s last completed fiscal year. This bill will cap the amount at no more than $1 million.

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Robin Kix

Robin Kix is currently the Renewal Department Manager. Since joining Lance Surety in 2014, she has helped thousands of businesses throughout the nation remain compliant at the federal, state and local level. She has significant experience supporting commercial bond lines, particularly in the automobile, transportation and construction industries. Robin and her team work together to create a positive customer service experience at the time of every policy renewal, whether that be finding the best pricing or offering additional assistance.

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