[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: 7CFR741.12]

[Page 343]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 741--SIRUP WAREHOUSES--Table of Contents
 
Sec. 741.12  Basis of amount of bond; additional amounts.

    (a) Exclusive of any amount which may added in accordance with 
paragraphs (b) and (c) of this section, the amount of such bond shall be 
at the rate of 5 cents per gallon of sugarcane sirup and 10 cents per 
gallon of maple sirup or honey, of the maximum number of gallons that 
the warehouse will accommodate when stored in the manner customary to 
the warehouse for which such bond is required, as determined by the 
Administrator, but not less than $5,000 nor more than $50,000. 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 this part for said 
warehouses, such warehouses shall be deemed to be one warehouse for the 
purposes of the bond required under Secs. 741.11 through 741.15.
    (b) In case of a deficiency in net assets under Sec. 741.5, 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.