South Carolina General Assembly
113th Session, 1999-2000

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Bill 1139


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                      1139
Type of Legislation:              Joint Resolution JR
Introducing Body:                 Senate
Introduced Date:                  20000210
Primary Sponsor:                  Land
All Sponsors:                     Land
Drafted Document Number:          l:\s-res\jcl\005ag g.kad.doc
Companion Bill Number:            4636
Residing Body:                    Senate
Current Committee:                Agriculture and Natural Resources 
                                  Committee 01 SANR
Subject:                          Agriculture, Southern Soya Corporation; 
                                  Dealers and Handlers Guaranty Fund, Warehouse 
                                  Receipts Guaranty Fund


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
Senate  20000210  Introduced, read first time,           01 SANR
                  referred to Committee


              Versions of This Bill

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A JOINT RESOLUTION

TO REQUIRE THE DEPARTMENT OF AGRICULTURE TO IMMEDIATELY MAKE DETERMINATIONS REGARDING CLAIMS CURRENTLY PENDING AGAINST THE SOUTH CAROLINA DEALERS AND HANDLERS GUARANTY FUND AND THE WAREHOUSE RECEIPTS GUARANTY FUND FOR LOSSES INCURRED IN THE MATTER OF SOUTHERN SOYA CORPORATION; AND TO FURTHER PROVIDE CONSIDERATIONS APPLICABLE TO THE PROCESSING OF CLAIMS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. (A) The Department of Agriculture immediately shall make determinations regarding claims currently pending against the South Carolina Dealers and Handlers Guaranty Fund and the Warehouse Receipts Guaranty Fund for losses incurred in the matter of Southern Soya Corporation. Payment shall be made immediately upon approval of all claims.

(B) For purposes of considering claims, losses shall be considered to have been sustained as of the filing of the petition for bankruptcy, whether the petition is for Chapter 11 reorganization or Chapter 7 liquidation.

(C) With regard to claims against the Warehouse Receipts Guaranty Fund, scale tickets may be accepted as proof of claims in lieu of warehouse receipts.

(D) If a claim has previously been denied on the basis of the failure to submit a warehouse receipt, then the department shall reconsider the claim and approve the claim if the claimant is able to provide scale tickets as proof of the claim.

(E) With regard to claims against the South Carolina Dealers and Handlers Guaranty Fund and the Warehouse Receipts Guaranty Fund, a claim shall be approved unless the claimant was paid in full for the commodity. If a contract is alleged to have been executed establishing that title has passed to the warehouse or its owners, the claim shall be paid unless the buyer and seller executed an affidavit within the contract stating that the seller conveys title and ownership of the commodity and that the seller forfeited all of his rights under the South Carolina Dealers and Handlers Guaranty Fund and the Warehouse Receipts Guaranty Fund.

SECTION 2. This joint resolution takes effect upon approval by the Governor.

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