§ 106-451.10. Licensing of warehousemen. - North Carolina Statutes

§ 106‑451.10. Licensing of warehousemen.

(a)        The Commissioner, or his designated representative, isauthorized, upon application to him, to issue to any person a license for theconduct of a cotton warehouse in accordance with this Article and such rules andregulations as may be made hereunder:  Provided, that each such warehouse befound suitable for the proper storage of cotton, and that such person agree, asa condition to the granting of the license, to comply with and abide by allterms of this Article and the rules and regulations prescribed hereunder.  Alllicenses issued pursuant to this Article shall expire on December 31 of eachyear.  Any warehouseman may renew his license by filing a renewal applicationwith the Commissioner on or before January 1 of each year.

(b)        Each license application and license renewal applicationmust include:

(1)        A current financial statement prepared by a certified publicaccountant;

(2)        Proof of the bond required by G.S. 106‑451.11;

(3)        A license fee of one hundred dollars ($100.00); and

(4)        A certificate of insurance if insurance is required. (1987, c. 840, s. 1.)