[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: 7CFR742.13]

[Page 361-362]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 742--COTTONSEED WAREHOUSES--Table of Contents
 
Sec. 742.13  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 $5 per ton or fractional part thereof of the maximum 
number of

[[Page 362]]

tons 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 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 Secs. 742.12 
through 742.16, but the maximum amount of the bond shall be raised to 
$100,000.
    (b) In case of a deficiency in net assets under Sec. 742.5, 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) In case the Secretary 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.