§ 106-451.42. Application; bond; display of certificate of registration. - North Carolina Statutes

§ 106‑451.42. Application; bond; display of certificate of registration.

(a)        A cotton gin, cotton warehouse, cotton merchant, or cottonmarketing cooperative or association shall, on or before July 1 of each year,file an application for registration on a form provided by the Commissioner ofAgriculture. A fee of twenty‑five dollars ($25.00) shall be submittedwith each application.

(b)        An application for registration as a cotton warehouse shallalso be accompanied by a bond in the amount of three hundred thousand dollars($300,000) issued by a company authorized to issue surety bonds in NorthCarolina and shall be conditioned upon fulfillment of contractual obligationsrelated to the purchase or storage of cotton. A bond shall not be required fora person who is licensed and bonded under the U.S. Warehouse Act.

(c)        The registration certificate shall be conspicuouslydisplayed at the place of business. (1999‑412, s. 1.)