[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: 7CFR739.12]

[Page 306-307]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 739--DRY BEAN WAREHOUSES--Table of Contents
 
Sec. 739.12  Basis of amount of bond; additional amounts.

    (a) Exclusive of any amount which may be added in accordance with 
paragraphs (b) and (c) of this section, the amount of such bond shall be 
at the rate of 40 cents per hundredweight for the maximum number of 
hundredweight that the warehouse will accommodate, when stored in the 
manner customary to the warehouse for which

[[Page 307]]

such bond is required, as determined by the Administrator, but not less 
than $20,000 nor more than $200,000. If such warehouseman has applied 
for licenses to conduct two or more warehouses in the same State, the 
assets applicable to all of which shall be subject to the liabilities of 
each, and shall desire to give a single bond meeting the requirements of 
the act and the regulations in this part for said warehouses, such 
warehouses shall be deemed to be one warehouse for the purposes of the 
bond required under this section.
    (b) In case of a deficiency in net assets under Sec. 739.5 there 
shall be added to the amount of the bond, fixed in accordance with 
paragraph (a) of this section, an amount equal to such deficiency.
    (c) If the Secretary, or his designated representative, finds the 
existence of conditions warranting such action, there shall be added to 
the amount fixed in accordance with paragraphs (a) and (b) of this 
section a further amount, fixed by him, to meet such conditions.

[10 FR 4964, May 4, 1945, as amended at 24 FR 3692, May 7, 1959; 39 FR 
41825, Dec. 3, 1974. Redesignated at 50 FR 1814, Jan. 14, 1985]