[Code of Federal Regulations]
[Title 7, Volume 7]
[Revised as of January 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR740.9]

[Page 325]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 740--NUT WAREHOUSES--Table of Contents
 
Sec. 740.9  Suspension, cancellation or revocation of warehouse licenses.

    (a) Pending investigation, the Secretary, whenever he deems 
necessary, may suspend a warehouseman's license temporarily without 
hearing. Upon written request and a satisfactory statement of reasons 
therefor, submitted by a warehouseman, the Secretary may, without 
hearing, suspend or cancel the license issued to such warehouseman. The 
Secretary may, after opportunity for hearing has been afforded in the 
manner prescribed in this section, suspend or revoke a license issued to 
a warehouseman when he determines that such warehouseman:
    (1) Does not have a net worth of at least $10,000;
    (2) Has parted, in whole or in part, with his control over the 
licensed warehouse;
    (3) Is in process of dissolution or has been dissolved;
    (4) Has ceased to operate such licensed warehouse;
    (5) Has in any other manner become nonexistent or incompetent or 
incapacitated to conduct the business of the warehouse;
    (6) Has made unreasonable or exorbitant charges for services 
rendered;
    (7) Is operating in the same city or town in which his licensed 
warehouse facilities are located, any facility for storage of nuts which 
is not covered by a license or an exemption as provided in Sec. 740.4, 
or
    (8) Has in any other manner violated or failed to comply with any 
provision of the Act or the regulations in this part.
    (b) Whenever any of the conditions mentioned in paragraphs (a)(1) 
through (8) of this section shall come into existence, it shall be the 
duty of the warehouseman to notify the Administrator immediately of the 
existing condition. Before a license is revoked or suspended (other than 
temporarily pending investigation) for any violation of, or failure to 
comply with, any provision of the Act or of the regulations in this 
part, or upon the ground that unreasonable or exorbitant charges have 
been made for services rendered, the warehouseman involved shall be 
furnished by the Secretary a written statement specifying the charges 
and shall be allowed a reasonable time within which he may answer the 
same in writing and apply for a hearing, an opportunity for which shall 
be afforded in accordance with Sec. 740.81.