[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: 7CFR742.41]

[Page 368]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 742--COTTONSEED WAREHOUSES--Table of Contents
 
Sec. 742.41  System of accounts.

    Each licensed warehouseman shall use for his licensed warehouse a 
system of accounts, approved for the purpose by the Administrator, which 
shall show for each bag or lot of cottonseed, the name of the depositor, 
the weight of the cottonseed, the number of bags in each lot, the grade 
when grade is required to be, or is ascertained, the location, the dates 
received for and delivered out of storage and the receipts issued and 
canceled, and a separate record for each depositor, and such accounts 
shall include a detailed record of all moneys received and disbursed and 
of all effective insurance policies. In the case of cottonseed stored in 
bags, the tag number mentioned in Sec. 742.36 shall be shown. There 
shall also be kept a record or chart for each bin, showing the 
temperature of cottonseed in storage as determined by the readings 
required by Sec. 742.31, and such other information as the Administrator 
may require. Such records shall be retained by the warehouseman for a 
period of six years after December 31 of the year in which created, and 
for such longer period as may be necessary for the purposes of any 
litigation which the warehouseman knows to be pending, or as may be 
required by the Administrator in particular cases to carry out the 
purposes of the Act.

(Approved by the Office of Management and Budget under control number 
0560-0120)

[SRA, BAE 102; 13 FR 8731, Dec. 30, 1948; 19 FR 57, Jan. 6, 1954, as 
amended at 29 FR 13369, Sept. 26, 1964; 47 FR 745, Jan. 7, 1982. 
Redesignated at 50 FR 1814, Jan. 14, 1985]