HARRY HUGHES, Governor

2845

Annotated Code of Maryland

(1974 Volume and 1980 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article - Agriculture

TITLE 13. GRAIN

SUBTITLE 1. GRAIN STORAGE INDEMNITY FUND

13-101.

(A)  IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(B)  "DEPARTMENT" MEANS THE MARYLAND DEPARTMENT OF
AGRICULTURE.

(C)  "FULL MARKET VALUE" MEANS THE VALUE REQUIRED BY
LAW TO BE USED BY INSURANCE UNDERWRITERS IN PAYING FOR
LOSSES OF COMMODITIES INSURED FOR THEIR CASH VALUE.

(D)  "FUND" MEANS THE MARYLAND GRAIN STORAGE INDEMNITY
FUND.

(E)  "GRAIN" MEANS CORN, WHEAT, RYE, OATS, BARLEY,
SORGHUM, AND SOYBEANS AND SUNFLOWERS.

(F)  "GRAIN DEALER BUYER" MEANS ANY PERSON WHO IS
LICENSED BY THE FEDERAL GOVERNMENT AND ENGAGED IN
THE BUSINESS OF BUYING, RECEIVING, SELLING, EXCHANGING
WAREHOUSING, NEGOTIATING, OR SOLICITING THE SALE, RESALE,
EXCHANGE, OR TRANSFER OF ANY GRAIN PURCHASED FROM A PRODUCER
OR HIS AGENT OR REPRESENTATIVE, OR HAS RECEIVED GRAIN ON
CONSIGNMENT FROM A PRODUCER OR HIS AGENT OR REPRESENTATIVE,
OR HAS RECEIVED GRAIN TO BE HANDLED ON A NET RETURN BASIS
FROM THE PRODUCER OR HIS AGENT OR REPRESENTATIVE PURCHASES
MORE THAN 25,000 BUSHELS OF GRAIN IN 1 YEAR FOR USE IN ANY
BUSINESS.

(G) (1) "LOSS" MEANS ANY MONETARY LOSS TO A PRODUCER
WHICH IS OF AN EXTRAORDINARY NATURE INCLUDING BANKRUPTCY,
EMBEZZLEMENT, THEFT, OR FRAUD.

(2) "LOSS" INCLUDES BANKRUPTCY, EMBEZZLEMENT,
THEFT, OR FRAUD.

(H) "PRODUCER" MEANS ANY PRODUCER GROWER OF GRAIN.

13-102.

(A) THERE IS A GRAIN STORAGE INDEMNITY FUND WHICH IS
ESTABLISHED FOR THE PURPOSE OF COMPENSATING FOR LOSSES