A. Each application for a charter shall include the name used by the warehouse and the name shall be shown on the charter. No warehouse shall be operated by or under any name other than that shown on the charter.

B. No charter shall be issued or remain valid if the applicant or warehouseman has:

1. Failed to meet or maintain the financial or surety requirements;

2. Filed an incomplete or fraudulent application or report;

3. Inadequate facilities to properly store and maintain commodities;

4. Failed to properly store commodities or maintain the quality and quantity of commodities in storage;

5. Failed to pay required fees; or

6. Been convicted of a felony based on fraud, theft, embezzlement, misappropriation of funds, or any act of moral turpitude.

Amended by Laws 1987, HB 1429, c. 125, § 4, emerg. eff. June 2, 1987; Amended by Laws 1997, HB 1156, c. 10, § 3, emerg. eff. July 1, 1997 (superseded document available); Amended by Laws 2000, SB 1402, c. 243, § 85, emerg. eff. May 24, 2000 (superseded document available).