MO HB1477

Repeals and re-enacts Section 276.401, RSMo, relating to the Missouri Grain Dealer Law (Sections 276.401 to 276.582).

Establishes that the grain dealer law applies to grain purchases where title transfers from seller to buyer within Missouri, with specific rules for title transfer based on contract type (FOB origin, delivered, or in-store commodities).

Exempts manufacturers or processors of feed whose total grain purchases from producers do not exceed 50,000 bushels per fiscal year and who pay at time of physical grain transfer, with resale limited to manufactured feed or feed by-products.

Provides comprehensive definitions for terms used in the grain dealer law, including "grain dealer," "buyer," "producer," "deferred payment agreement," and other key concepts governing grain transactions.

Clarifies that grain dealer exemptions include board of trade members, farm operators purchasing for own use, entities buying exclusively from licensed dealers, and certain feed manufacturers meeting specific purchase limits and payment requirements.