Application.

CFR · 2024-01-01 · US · Title 7

(a) An applicant for a license must submit to AMS information and documents determined by AMS to be sufficient to conclude that the applicant can comply with the provisions of the Act. Such documents must include a current review or an audit-level financial statement prepared according to generally accepted accounting standards as defined by the American Institute of Certified Public Accountants. For any entity that is not an individual, a document that establishes proof of the existence of the entity, such as: (1) For a partnership, an executed partnership agreement; and (2) For a corporation: (i) Articles of incorporation certified by the Secretary of State of the applicable State of incorporation; (ii) Bylaws; and (iii) Permits to do business; and (3) For a limited partnership, an executed limited partnership agreement; and (4) For a limited liability company: (i) Articles of organization or similar documents; and (ii) Operating agreement or similar agreement. (b) The warehouse facilities of an operator licensed under the Act must, as determined by AMS, be: (1) Physically and operationally suitable for proper storage of the applicable agricultural product or agricultural products specified in the license; (2) Operated according to generally accepted warehousing activities and practices in the industry for the applicable agricultural product or agricultural products stored in the facility; and (3) Subject to the warehouse operator's control of the facility including all con

official document · source cfr-2024 · id 7:§ 869.100