69-263. FAILURE TO FILE — LOSS OF CLAIM ON FUND. If a producer, after notification, refuses or neglects to file in the office of the director his verified claim against a warehouseman or dealer as requested by the director within ninety (90) days from the date of the notice, the director shall thereupon be relieved of responsibility for taking action with respect to such claim later asserted and no such claim shall be paid from the commodity indemnity fund. No claim shall be paid from the fund if a producer files his claim more than two (2) years from the date of sale of the commodity. Provided however, for those claims that are based on contracts containing no readily calculable sale value of the commodity for the producer, no claim shall be paid from the fund if a producer files his claim more than one hundred eighty (180) days from the date the contract is executed.
History:
[69-263, added 1988, ch. 350, sec. 2, p. 1039; am. 1990, ch. 183, sec. 11, p. 406; am. 2001, ch. 304, sec. 14, p. 1110; am. 2002, ch. 259, sec. 44, p. 779; am. 2003, ch. 131, sec. 1, p. 384.]
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