[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1423.4]

[Page 465]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1423_COMMODITY CREDIT CORPORATION APPROVED WAREHOUSES--Table of Contents
 
Sec.  1423.4  General requirements.

    (a) Unless otherwise provided in this part, approved warehouse 
operators must maintain a current and valid license for the kind of 
storage operation for which the warehouse operator seeks approval if 
such a license is required by State or local laws or regulations and 
maintain accurate and complete inventory and operating records.
    (b) Approved warehouse operators may only use pre-numbered warehouse 
receipts, or pre-assigned ranges of numbers for electronic warehouse 
receipts as set forth in the agreement, and may only use pre-numbered 
scale tickets, if applicable, as CCC may approve.
    (c) In addition, the warehouse operator must:
    (1) Be in compliance with state and local laws regarding fire 
safety;
    (2) Furnish a copy of any written lease agreement to CCC with the 
application. All leases are subject to CCC approval; and
    (3) Have sufficient employees and management with technical 
qualifications and skills in the warehousing business regarding the 
commodities subject to the agreement.
    (d) Unless otherwise provided in this part, each approved warehouse 
shall:
    (1) Be maintained under the control of the warehouse operator;
    (2) Be maintained in a good state of repair; and
    (3) Maintain adequate equipment to receive, handle, store, preserve 
and deliver the applicable commodity.