[Code of Federal Regulations]
[Title 7, Volume 7, Parts 700 to 899]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR735.28]

[Page 224-225]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 735--COTTON WAREHOUSES--Table of Contents
 
Sec. 735.28  Records to be kept in safe place.

    (a) Each warehouseman shall provide a metal fireproof safe, a 
fireproof vault, or fireproof compartment in which he shall keep, when 
not in actual use, all records, books, and papers pertaining to the 
licensed warehouse, including his current receipt book, copies of 
receipts issued, and canceled receipts or microfilm copies of canceled 
receipts except that with the written consent of the Administrator or 
his representative, upon a showing by such warehouseman that it is not 
practicable to provide such fireproof safe, vault, or compartment he may 
keep such records, books, and papers in some other place of safety, 
approved by the Administrator or his representative.
    (b) Each canceled receipt or microfilm copy of each canceled receipt 
shall be retained by the warehouseman for a period of 6 years after 
December 31 of the year in which the receipt is canceled and for such 
longer period as may be necessary for the purposes of any litigation 
which the warehouseman knows to be pending, or as may be required by the 
Administrator in particular cases to carry out the purposes of the Act.
    (c) Canceled receipts shall be arranged by the warehouseman in 
numerical order and otherwise in such manner as shall be directed, for 
purposes of audit, by authorized officers or agents of the Department of 
Agriculture.
    (d) If microfilm copies of canceled receipts are to be retained in 
lieu of canceled receipts, the warehouseman shall:
    (1) Have available at all times facilities for immediate, easily 
readable projection of the microfilm and for producing easily readable 
facsimile enlargements;

[[Page 225]]

    (2) Arrange, index, and file the films in such a manner as to permit 
the immediate location of any particular microfilm copy; and,
    (3) Be ready at all times to provide, and immediately provide, at 
the expense of the warehouseman, any facsimile enlargement of such 
microfilm copies which any authorized officers or agents of the 
Department of Agriculture may request.

(Approved by the Office of Management and Budget under control number 
0560-0120)

[37 FR 12920, June 30, 1972, as amended at 47 FR 745, Jan. 7, 1982. 
Redesignated at 50 FR 1814, Jan. 14, 1985]