[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: 7CFR742.8]

[Page 360-361]
 
                          TITLE 7--AGRICULTURE
 
                            CHAPTER VII--FARM
                SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
 
PART 742--COTTONSEED WAREHOUSES--Table of Contents
 
Sec. 742.8  Suspension or revocation of warehouse licenses.

    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 cancel a license issued to a warehouseman 
when such warehouseman (a) is bankrupt or insolvent; (b) has parted, in 
whole or in part, with his control over the licensed warehouse; (c) is 
in process of dissolution or has been dissolved; (d) has ceased to 
conduct such licensed warehouse; or (e) has in any other manner become 
nonexistent or incompetent or incapacitated to conduct the business of 
the warehouse. Whenever any of the conditions mentioned in paragraphs 
(a) to (e) of this section shall come into existence, it shall be the 
duty of the warehouseman

[[Page 361]]

to notify immediately the Administrator of the existing condition. 
Before a license is permanently suspended, revoked, or canceled 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, or by an 
official of the Department of Agriculture designated for the purpose, 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. 742.84.

[SRA, BAE 102, as amended Sept. 1926, and at 13 FR 8730, Dec. 30, 1948. 
Redesignated at 50 FR 1814, Jan. 14, 1985]