302 KAR 34:010. Definitions.
RELATES TO: KRS 251.610, 251.640
STATUTORY AUTHORITY: KRS 251.700
NECESSITY, FUNCTION, AND CONFORMITY: To further clarify the Kentucky Grain Insurance Fund Act and Dealer Law.
Section 1. Participant or participation in the Kentucky grain insurance fund shall mean:
(1) Any person who has in good faith contributed to the Kentucky grain insurance fund prior to meeting the criteria of the claimant shall be a participant in the Kentucky grain insurance fund.
(2) Persons who have marketed grain on a deferred or delayed pricing contract shall be participants in the Kentucky grain insurance fund.
(3) Any person storing grain with a dealer or warehouseman who has not previously contributed to the fund may participate therein and obtain all the protection of the fund by remitting one-half (1/2) cent per bushel on all grain stored at the time such grain is placed in the custody or control of the dealer or warehouseman. (11 Ky.R. 96; Am. 402; eff. 10-9-84.)