New Grain Dealer License

Do I need a Grain Warehouse License or a Grain Dealer License? A Grain Warehouse license is for a business that buys, sells and stores grain. A Grain Warehouse license can only be issued to a business that has grain bins and/or warehouses to store grain. A Grain Dealer license is for people who buy & sell grain only and they have no ability to store or handle grain. A grain dealer buys grain from producer/owners, handles all monies from the sell of the grain and pays the producer/owner.

A Grain Dealer license is required for any business or individual who purchases grain from any farmer/producer or Grain Warehouse in Arkansas. An Arkansas Grain Dealer license is not required if you are one of the following: State Licensed Grain Warehouse, Federal Grain Warehouse or an end user of the grain that is purchased. The intent of this license is to give some protection to all grain owners who sell grain through a grain merchandizer.

The following documents are required by law to obtain a Grain Dealer License:

1. A completed application (GD-1) for license to operate as a grain dealer. A newly organized           company must submit ($150.00) with their application. An existing grain dealer must submit ($250.00) with their application.

2. A) A newly organized Grain Dealer merchandizer is only required to submit a beginning trial balance sheet prepared and submitted by a CPA/RPA to our office.

B) An existing Grain Dealer merchandizer must have a CPA/RPA complete all of the following:

           a. Compilation Balance Sheet Statement or greater

           b. Income and Expense

           c. Schedule of Notes Payable

           d. Statement of Cash Flows

    All financial requirements must be emailed to our agency by the CPA or RPA, or you may submit     a bound copy that the CPA/RPA has prepared for you.

3. The Certificate of Fact (GW/GD-3) must be completed and returned. This form must be signed by an authorized person and must be signed and stamped by a notary.

4. Enclosed is a Bond Form (GD-6), Letter of Credit Form (GD-7) and Certificate of Deposit form (GD-8). You must choose one of the above to provide a beginning surety of $50,000.00.

5. A regular Corporation must submit a Corporate Charter and a Limited Liability Company (LLC) must submit a Corporate Resolution.

After all the required items have been met, your Arkansas Grain Dealer License will be issued.

Grain Dealer Renewal License

BE AWARE: All Renewal Applications are due in our office by May 31st of each year.

A renewal application is used by a licensed Grain Dealer to renew their current license each year.

The following documents are required to renew your Grain Dealer License:

1. Renewal Application form (GD-2) must be completed and submitted along with payment that is         based on your previous year’s dollar amount of purchases of Arkansas grain. Look in Section IV       (Fees) of the Grain Dealer regulations to determine your renewal fee amount.

2. Your Grain Dealer surety amount can change year to year. Please check your total dollar amount       of Arkansas grain purchased from last year and look at the table in Regulations, Section III, for         bonding and licensing to determine your correct surety amount for the upcoming licensing year. If     your surety has changed, please contact your surety provider to get the surety corrected (Increase       or Decrease). Submit the corrected surety with your application.

· Note: If surety has changed and you need a new form go to the Forms section at the bottom of page   and choose the correct form.

3. A current Financial Statement is required to be on file in our office within ninety (90) days of your     fiscal year end.

Requirements for Financial Statements are as follows:

            a. Compilation Statement or greater

            b. Income and Expense

            c. Schedule of Notes Payable

            d. Statement of Cash Flows

    If the financial statement on file in this office is current, there is no need to submit a duplicate.

4. The Certificate of Fact Form (GW/GD-3) must be completed and returned.

After all the required items have been met, your Arkansas Grain Dealer License will be issued.

Amended Grain Dealer License

The amended application is needed when a licensed Grain Dealer adds a new buyer to their business or when an out of state Grain Dealer that is currently licensed in Arkansas changes their statutory agent.

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