The Iowa Department of Agriculture and Land Stewardship has immediately suspended the warehouse and grain dealer licenses for Global Processing Inc. of Kanawha, Iowa. As a result of this action, Global Processing Inc. shall not operate as a warehouse operator or grain dealer within Iowa until further order of the Department and must surrender any warehouse and grain dealer certificates to the Department.
Global Processing Inc.'s licenses were suspended in accordance with Iowa Code Chapter 203 and 203C. The suspension is based upon the company's failure to have sufficient funds to cover producer grain checks and failure to file monthly financial statements in accordance with Iowa Code 203 and 203C. The Department has requested that a hearing on the Department's action be held in the immediate future.
The Iowa Department of Agriculture and Land Stewardship's Grain Warehouse Bureau regulates and examines the financial solvency of grain dealers and grain warehouse operators. The functions of the Bureau include warehouse licensing, warehouse examination, grain dealer licensing, and grain dealer examinations.
Categories: Iowa, Business