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Current Status Bill Number:View additional legislative information at the LPITS web site.4636 Type of Legislation:Joint Resolution JR Introducing Body:House Introduced Date:20000216 Primary Sponsor:Battle All Sponsors:Battle, Sharpe and Witherspoon Drafted Document Number:l:\council\bills\gjk\20996sd00.doc Companion Bill Number:1139 Residing Body:House Current Committee:Agriculture, Natural Resources and Environmental Affairs Com 20 HANR Subject:Southern Soya Corporation, claims against Dealers and Handlers and Warehouse Receipts Guaranty Funds, Agriculture History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20000216 Introduced, read first time, 20 HANR referred to Committee Versions of This Bill
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 must be made immediately upon approval of all claims.
(B) For purposes of considering claims, losses must 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 must 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 must 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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