MO HB946

Repeals sections 276.416, 276.421, 276.436, 276.441, 276.446, and 411.280 RSMo and enacts four new sections to regulate grain dealers and warehouses.

Increases minimum surety bond requirement for grain dealers from $20,000 to $50,000 and maximum from $300,000 to $600,000.

Raises bond calculation rate from 1-5% to 2% of aggregate grain purchases for grain dealers.

Adds new working capital requirement that licensed grain dealers must maintain current assets equal to at least 100% of current liabilities with a current ratio of at least 1:1, with director discretion to allow offset through increased bonding.

Increases warehouse net worth requirement from 15 cents per bushel of storage capacity to 25 cents per bushel, with deficiencies offset by additional bonding at $1,000 per $1,000 of deficiency.