203.20 - SHRINKAGE ADJUSTMENTS -- DISCLOSURES -- PENALTIES.

        203.20  SHRINKAGE ADJUSTMENTS -- DISCLOSURES --
      PENALTIES.
         1.  A person who, in connection with the receipt of corn or
      soybeans for storage, processing, or sale, adjusts the scale weight
      of the grain to compensate for the moisture content of the grain
      shall compute the amount of the adjustment by multiplying the scale
      weight of the grain by that factor which results in a rate of
      adjustment of one and eighteen hundredths percent of weight per one
      percent of moisture content.  The use of any rate of weight
      adjustment for moisture content other than the one prescribed by this
      subsection is a fraudulent practice.  The person shall post on the
      business premises in a conspicuous place notice of the rate of
      adjustment for moisture content that is prescribed by this
      subsection.  Failure to make this disclosure is a simple misdemeanor.

         2.  A person who, in connection with the receipt of grain for
      storage, processing or sale, adjusts the quantity of the grain
      received to compensate for losses to be incurred during the handling,
      processing, or storage of the grain shall post on the business
      premises in a conspicuous place notice of the rate of adjustment to
      be made for this shrinkage.  Failure to make the required disclosure
      is a simple misdemeanor.
         3.  A person who adjusts the scale weight of corn or soybeans both
      for moisture content and for handling, processing, or storage losses
      may combine the two adjustment factors into a single factor and may
      use this resulting factor to compute the amount of weight adjustment
      in connection with storage, processing, or sale transactions,
      provided that the person shall post on the business premises in a
      conspicuous place a notice that discloses the moisture shrinkage
      factor prescribed by subsection 1, the handling shrinkage factor to
      be imposed, and the single factor that results from combining these
      factors.  Failure to make the required disclosure is a simple
      misdemeanor.  
         Section History: Early Form
         [81 Acts, ch 180, § 17] 
         Section History: Recent Form
         C83, § 542.20
         C93, § 203.20