[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: 7CFR735.4]

[Page 216]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 735--COTTON WAREHOUSES--Table of Contents
 
Sec. 735.4  Grounds for not issuing a license.

    A license for the conduct of a warehouse, or any amendment to a 
license, under the regulations in this part, shall not be issued if it 
is found by the Secretary, or his designated representative, that the 
warehouse is not suitable for the proper storage of cotton; that the 
warehouseman does not possess a good reputation, or does not have a net 
worth of at least $25,000, or is incompetent to conduct such warehouse 
in accordance with the act and the regulations in this part; or that 
there is any other sufficient reason within the intent of the act for 
not issuing such license. If all the facilities operated for the storage 
of cotton by the applicant within the same city or town are not to be 
licensed under the act, the applicant shall not be licensed as a cotton 
warehouseman with respect to any of such facilities, unless an exemption 
of the facilities which are not to be licensed is granted as provided in 
Sec. 735.3a.

[29 FR 15720, Nov. 24, 1964. Redesignated at 50 FR 1814, Jan. 14, 1985, 
and amended at Amdt. 2, 53 FR 27148, July 19, 1988]