21—90.17 (203C) Records. A warehouse operator shall maintain complete and sufficient records to show all deposits, purchases, sales, storage obligations and loadouts of the warehouse.
	 90.17(1) Maintaining warehouse receipts. Unused warehouse receipts shall be maintained in numerical order. The warehouse operator’s copy (yellow) of outstanding warehouse receipts and the original copy (white) of warehouse receipts canceled since the previous examination shall be maintained in separate numerical sequences.
	 90.17(2) Daily position record. The daily position record shall summarize one month’s activity in a format approved by the bureau. The daily position record shall indicate at least the increases and decreases and ending balances on a daily basis for total stocks, open storage, warehouse-receipted, unpaid company-owned, and paid company-owned, and shall indicated the ending balance of total company-owned. The daily position record shall reflect the obligations in the appropriate columns. A separate daily position record shall be maintained:
	  a.   	 For each kind and class of grain; and
	  b.   	 For each type of commodity that is identity-preserved in licensed facilities.
All daily entries to the daily position record shall reflect transactions made through that day’s close of business unless another time of day is elected by the licensee and applied by the licensee on a consistent basis.
	 90.17(3) Scale tickets. Unless the warehouse operator utilizes a computer system which sequentially numbers and prints scale weight tickets, every warehouse operator shall have prenumbered scale tickets.
Every scale ticket shall show, at a minimum, the following:
	  a.   	 The warehouse operator’s name and location where the grain was delivered;
	  b.   	 Date;
	  c.   	 Depositor’s name;
	  d.   	 Gross weight, tare weight, and delivered weight;
	  e.   	 Type of product or commodity; and
	  f.   	 An indication of whether product or commodity is being received or loaded out.
A copy of each ticket shall be maintained in numerical order by the warehouse operator as part of the records, unless the warehouse operator uses a computer system which sequentially numbers and prints scale tickets and the scale ticket information can be retrieved and reprinted by the computer system. Such systems must be approved in writing by the warehouse bureau. A scale ticket printed at the time of weighing shall be the document of record. All copies of reprinted scale tickets shall be marked “duplicate.” All scale ticket forms in the possession of a warehouse operator shall have been permanently and consecutively numbered at the time of printing. The licensee shall be responsible for providing a list of all scale tickets used at each location.
	 90.17(4) Settlement sheets. Unless the warehouse operator utilizes a computer system which sequentially numbers and prints settlement sheets as generated, every warehouse operator shall have prenumbered settlement sheets. All settlement sheets shall show, at a minimum, the following:
	  a.   	 The warehouse operator’s name and location;
	  b.   	 The seller’s name and address;
	  c.   	 Date(s) of deliveries;
	  d.   	 Scale ticket numbers;
	  e.   	 Amount, kind and grade factors of the grain; and
	  f.   	 Method of settlement:
	 (1) 	 If priced, the price per bushel, the quantity of grain priced and the date of pricing.
	 (2) 	 If paid for, the date, price per bushel, the quantity of grain paid for, the amount of payment and check number or electronic funds transfer number.
	 (3) 	 If credit-sale contract, the contract type, date and number and the quantity of grain transferred to the contract.
	 (4) 	 If warehouse receipt, the receipt number, date of issuance and quantity of grain transferred to the receipt.
	 (5) 	 If removed from the warehouse, the delivery document numbers, dates and amounts of the shipments.
Copies of all settlement sheets shall be maintained in numerical or alphabetical order by the warehouse operator as part of the records, unless the warehouse operator uses a computer system approved in writing by the bureau which sequentially numbers and prints settlement sheets and the settlement sheets can be retrieved on and reprinted by the computer system. A copy of the settlement sheet shall be given to the depositor upon demand, upon the issuance of a credit-sale contract, upon the issuance of a warehouse receipt or upon the completion of returning the commodity to the depositor. Any settlement sheet used in the pricing of grain for the purpose of sale to the warehouse operator shall have the price shown on all copies of such settlement sheet. Deliveries and settlement transactions shall be posted to the settlement sheet on a daily basis unless a computer system utilized can generate a scale ticket summary sheet for each depositor.
	 90.17(5) Multiple locations. If the licensee operates multiple locations under one license, the branch locations may maintain a separate series of the following documents:
	  a.   	 Scale tickets;
	  b.   	 Settlement sheets;
	  c.   	 Credit-sale contracts;
	  d.   	 Warehouse receipts; and
	  e.   	 Checks.
However, upon issuance, the warehouse operator’s copy (yellow) of all warehouse receipts and a copy of each credit-sale contract shall be returned to the main location.
	 90.17(6) Inspection. For the purpose of inspection, the hours of 8 a.m.	to 5 p.m., except Saturday, Sunday and holidays, shall be considered as ordinary business hours. All financial records, grain records and payment records shall be available for inspection by the bureau during ordinary business hours and any other time specified by the bureau in writing. All records shall be made available within the state of Iowa upon request.
	 90.17(7) Retention of records. All records shall be kept for a period of not less than six years. Such records shall be kept for the stated time period even if a license has been canceled, terminated or revoked.
	 90.17(8) Grade factors on scale tickets. All grade factors for determining the quality and grade of grain in accordance with the Official United States Standards for Grain shall be documented on scale tickets or supplemental records at time of deposit.
This rule is intended to implement Iowa Code sections 203C.2, 203C.17, and 203C.35.