WAREHOUSE RECEIPT

If grain is received for storage, the grain warehouse operator shall issue a grain warehouse receipt to the depositor within five working days of the date of deposit. Storage contracts on grain being stored end on the expiration date of the storage license if not ended earlier by the depositor. In the absence of a demand for delivery, order to sell, or notice by the grain warehouse operator, it is presumed that the parties intended to renew the storage contract for the next licensing year. Statutory Authority: MS s 16A.128 ; 223.19 ; 232.22 ; 232.24 ; 236.08 History: 12 SR 2392