{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/3.2-4765.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/3.2-4765.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/3.2-4765.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/3.2-4765.html"}],"law_id":62264,"edition_id":1,"section_id":62264,"structure_id":13866,"section_number":"3.2-4765","catch_line":"License required; application; license fee and bond","history":"2000, c. 584, \u00a7\u00a7 3.1-722.30 to 3.1-722.32; 2008, c. 860.","full_text":"A\n\nNo person shall do business as a cotton handler without first obtaining a license from the Commissioner.B\n\nEvery person intending to do business as a cotton handler, shall make application to the Commissioner for a license on or before July 1 of each year on a form provided by the Commissioner. Any license granted by the Commissioner shall expire on June 30 following the date of issuance. The application shall specify:1\n\nAn address where the applicant will receive correspondence by first-class mail;2\n\nEvery address where the records of the cotton handler will be kept;3\n\nEvery address, including street address, building number, and city or town:\n\t\t\t\ta. In the case of a cotton gin, where the cotton will be ginned; or\n\t\t\t\tb. In the case of a cotton warehouse, where the cotton will be warehoused;4\n\nThe full name and first-class mail address, including the street, city or town, and state, of a person who is authorized to receive service of process on behalf of the cotton handler; and5\n\nThe form of business organization that the cotton handler will assume. If the applicant will be doing business as a sole proprietorship, he shall disclose the full name of the sole proprietor and the name under which the sole proprietor will be doing business. If the applicant will be doing business as a partnership, he shall disclose the full name of each of the partners, the name of the partnership, and the name under which the partnership will be doing business. If the applicant will be doing business as a corporation, he shall disclose the full name of each of the officers of the corporation, the name of the corporation, and the name under which the corporation will be doing business. If the applicant will be doing business as a limited liability company or foreign limited liability company, he shall disclose the full name of the manager of the company, the name of the company, and the name under which the company will be doing business as a cotton handler. If the company has no manager, the applicant shall disclose the full names of the members of the company.C\n\nThe applicant shall submit with the application a nonrefundable application fee of $50.D\n\nEvery person submitting an application for a license as a cotton handler who will be doing business as a cotton gin or cotton merchant shall furnish at the time of application for a license a bond in the amount of $50,000 in accordance with &#xA7; 3.2-4767. Nothing in this subsection shall require a person doing business as a cotton gin to be separately licensed or bonded as a cotton merchant.E\n\nExcept as otherwise provided in subsection F, every person making application for a license as a cotton handler doing business as a cotton warehouse shall furnish, at the time of application for the license, proof of insurance with a company licensed to do business in the Commonwealth in an amount equal to the fair market value of the maximum amount of cotton that can be stored in the warehouse, and a bond in the amount of $500,000 in accordance with &#xA7; 3.2-4767.F\n\nIn lieu of satisfying the requirements of subsection E, a cotton handler doing business solely as a cotton warehouse may furnish proof of a valid license issued pursuant to the United States Warehouse Act (USWA) (7 U.S.C. &#xA7; 241 et seq.). A cotton handler governed by this subsection shall notify the Commissioner of any change in the status of its USWA license within 24 hours after being notified by the U.S. Department of Agriculture.","order_by":null,"text":{"0":{"id":227081,"text":"No person shall do business as a cotton handler without first obtaining a license from the Commissioner.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":227082,"text":"Every person intending to do business as a cotton handler, shall make application to the Commissioner for a license on or before July 1 of each year on a form provided by the Commissioner. Any license granted by the Commissioner shall expire on June 30 following the date of issuance. The application shall specify:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":227083,"text":"An address where the applicant will receive correspondence by first-class mail;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":227084,"text":"Every address where the records of the cotton handler will be kept;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":227085,"text":"Every address, including street address, building number, and city or town:\n\t\t\t\ta. In the case of a cotton gin, where the cotton will be ginned; or\n\t\t\t\tb. In the case of a cotton warehouse, where the cotton will be warehoused;","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":227086,"text":"The full name and first-class mail address, including the street, city or town, and state, of a person who is authorized to receive service of process on behalf of the cotton handler; and","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"B5"},"6":{"id":227087,"text":"The form of business organization that the cotton handler will assume. If the applicant will be doing business as a sole proprietorship, he shall disclose the full name of the sole proprietor and the name under which the sole proprietor will be doing business. If the applicant will be doing business as a partnership, he shall disclose the full name of each of the partners, the name of the partnership, and the name under which the partnership will be doing business. If the applicant will be doing business as a corporation, he shall disclose the full name of each of the officers of the corporation, the name of the corporation, and the name under which the corporation will be doing business. If the applicant will be doing business as a limited liability company or foreign limited liability company, he shall disclose the full name of the manager of the company, the name of the company, and the name under which the company will be doing business as a cotton handler. If the company has no manager, the applicant shall disclose the full names of the members of the company.","type":"section","prefixes":["B","5"],"prefix":"5","entire_prefix":"B5","prefix_anchor":"B5","level":2,"prior_prefix":"B4","next_prefix":"C"},"7":{"id":227088,"text":"The applicant shall submit with the application a nonrefundable application fee of $50.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B5","next_prefix":"D"},"8":{"id":227089,"text":"Every person submitting an application for a license as a cotton handler who will be doing business as a cotton gin or cotton merchant shall furnish at the time of application for a license a bond in the amount of $50,000 in accordance with &#xA7; 3.2-4767. Nothing in this subsection shall require a person doing business as a cotton gin to be separately licensed or bonded as a cotton merchant.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"9":{"id":227090,"text":"Except as otherwise provided in subsection F, every person making application for a license as a cotton handler doing business as a cotton warehouse shall furnish, at the time of application for the license, proof of insurance with a company licensed to do business in the Commonwealth in an amount equal to the fair market value of the maximum amount of cotton that can be stored in the warehouse, and a bond in the amount of $500,000 in accordance with &#xA7; 3.2-4767.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"10":{"id":227091,"text":"In lieu of satisfying the requirements of subsection E, a cotton handler doing business solely as a cotton warehouse may furnish proof of a valid license issued pursuant to the United States Warehouse Act (USWA) (7 U.S.C. &#xA7; 241 et seq.). A cotton handler governed by this subsection shall notify the Commissioner of any change in the status of its USWA license within 24 hours after being notified by the U.S. Department of Agriculture.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":13866,"edition_id":1,"name":"Cotton Handlers","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13865,"metadata":{},"date_created":"2026-06-26 03:46:07","date_modified":"2026-06-26 03:46:07","permalink":{"id":196915,"object_type":"structure","relational_id":13866,"identifier":"5","token":"3.2\/III\/47\/5","url":"\/3.2\/III\/47\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13865,"edition_id":1,"name":"Sale of Farm Produce","identifier":"47","label":"chapter","depth":3,"order_by":1,"parent_id":13102,"metadata":{},"date_created":"2026-06-26 03:46:07","date_modified":"2026-06-26 03:46:07","permalink":{"id":196649,"object_type":"structure","relational_id":13865,"identifier":"47","token":"3.2\/III\/47","url":"\/3.2\/III\/47\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13102,"edition_id":1,"name":"Production and Sale of Agricultural Products","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12793,"metadata":{},"date_created":"2026-06-26 03:44:17","date_modified":"2026-06-26 03:44:17","permalink":{"id":195443,"object_type":"structure","relational_id":13102,"identifier":"III","token":"3.2\/III","url":"\/3.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12793,"edition_id":1,"name":"Agriculture, Animal Care, and Food","identifier":"3.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":193939,"object_type":"structure","relational_id":12793,"identifier":"3.2","token":"3.2","url":"\/3.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":60628,"structure_id":13866,"section_number":"3.2-4764","catch_line":"Definitions","url":"\/3.2-4764\/","token":"3.2\/III\/47\/5\/3.2-4764","metadata":false},{"id":62264,"structure_id":13866,"section_number":"3.2-4765","catch_line":"License required; application; license fee and bond","url":"\/3.2-4765\/","token":"3.2\/III\/47\/5\/3.2-4765","metadata":false},{"id":67220,"structure_id":13866,"section_number":"3.2-4766","catch_line":"Additional information to be reported by cotton gin each license year","url":"\/3.2-4766\/","token":"3.2\/III\/47\/5\/3.2-4766","metadata":false},{"id":60119,"structure_id":13866,"section_number":"3.2-4767","catch_line":"Execution and terms of bond; action","url":"\/3.2-4767\/","token":"3.2\/III\/47\/5\/3.2-4767","metadata":false},{"id":63355,"structure_id":13866,"section_number":"3.2-4768","catch_line":"Duties and powers of Commissioner with respect to bonds","url":"\/3.2-4768\/","token":"3.2\/III\/47\/5\/3.2-4768","metadata":false},{"id":65356,"structure_id":13866,"section_number":"3.2-4769","catch_line":"Investigation by Commissioner; right of entry and inspection","url":"\/3.2-4769\/","token":"3.2\/III\/47\/5\/3.2-4769","metadata":false},{"id":81734,"structure_id":13866,"section_number":"3.2-4770","catch_line":"Records to be kept by cotton handler","url":"\/3.2-4770\/","token":"3.2\/III\/47\/5\/3.2-4770","metadata":false},{"id":57976,"structure_id":13866,"section_number":"3.2-4771","catch_line":"Record and accounts to be provided to consignor","url":"\/3.2-4771\/","token":"3.2\/III\/47\/5\/3.2-4771","metadata":false},{"id":54894,"structure_id":13866,"section_number":"3.2-4772","catch_line":"Certificate establishing condition, quality, grade to be furnished","url":"\/3.2-4772\/","token":"3.2\/III\/47\/5\/3.2-4772","metadata":false},{"id":68560,"structure_id":13866,"section_number":"3.2-4773","catch_line":"Identification of finished bales of cotton","url":"\/3.2-4773\/","token":"3.2\/III\/47\/5\/3.2-4773","metadata":false},{"id":61052,"structure_id":13866,"section_number":"3.2-4774","catch_line":"Denial, suspension, or revocation of a license","url":"\/3.2-4774\/","token":"3.2\/III\/47\/5\/3.2-4774","metadata":false},{"id":84326,"structure_id":13866,"section_number":"3.2-4775","catch_line":"Offenses and punishment","url":"\/3.2-4775\/","token":"3.2\/III\/47\/5\/3.2-4775","metadata":false}],"previous_section":{"id":60628,"structure_id":13866,"section_number":"3.2-4764","catch_line":"Definitions","url":"\/3.2-4764\/","token":"3.2\/III\/47\/5\/3.2-4764","metadata":false},"next_section":{"id":67220,"structure_id":13866,"section_number":"3.2-4766","catch_line":"Additional information to be reported by cotton gin each license year","url":"\/3.2-4766\/","token":"3.2\/III\/47\/5\/3.2-4766","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/3.2-4765\/","history_text":"<p>This law was first created in 2000. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?001+ful+CHAP0584\">584<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2008, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?081+ful+CHAP0860\">860<\/a>.<\/p>","references":[{"id":60119,"section_number":"3.2-4767","catch_line":"Execution and terms of bond; action","order_by":null,"url":"\/3.2-4767\/"}],"refers_to":[{"id":60119,"section_number":"3.2-4767","catch_line":"Execution and terms of bond; action","order_by":null,"url":"\/3.2-4767\/"}],"permalink":{"id":196921,"object_type":"law","relational_id":62264,"identifier":"3.2-4765","token":"3.2\/III\/47\/5\/3.2-4765","url":"\/3.2-4765\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/3.2-4765\/","token":"3.2\/III\/47\/5\/3.2-4765","dublin_core":{"Title":"License required; application; license fee and bond","Type":"Text","Format":"text\/html","Identifier":"\u00a7 3.2-4765","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section id=\"A\"><p><span class=\"prefix-number\">A.<\/span> No person shall do business as a <span class=\"dictionary\">cotton handler<\/span> without first obtaining a license from the <span class=\"dictionary\">Commissioner<\/span>. <a id=\"paragraph-227081\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#A\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B\"><p><span class=\"prefix-number\">B.<\/span> Every person intending to do business as a <span class=\"dictionary\">cotton handler<\/span>, shall make application to the <span class=\"dictionary\">Commissioner<\/span> for a license on or before July 1 of each year on a form provided by the <span class=\"dictionary\">Commissioner<\/span>. Any license granted by the <span class=\"dictionary\">Commissioner<\/span> shall expire on June 30 following the date of issuance. The application shall specify: <a id=\"paragraph-227082\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#B\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B1\" class=\"indent-1\"><p><span class=\"prefix-number\">1.<\/span> An address where the applicant will receive correspondence by first-class mail; <a id=\"paragraph-227083\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#B1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B2\" class=\"indent-1\"><p><span class=\"prefix-number\">2.<\/span> Every address where the records of the <span class=\"dictionary\">cotton handler<\/span> will be kept; <a id=\"paragraph-227084\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#B2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B3\" class=\"indent-1\"><p><span class=\"prefix-number\">3.<\/span> Every address, including street address, building number, and city or town:\n\t\t\t\ta. In the case of a <span class=\"dictionary\">cotton gin<\/span>, where the cotton will be ginned; or\n\t\t\t\tb. In the case of a <span class=\"dictionary\">cotton warehouse<\/span>, where the cotton will be warehoused; <a id=\"paragraph-227085\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#B3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B4\" class=\"indent-1\"><p><span class=\"prefix-number\">4.<\/span> The full name and first-class mail address, including the street, city or town, and state, of a person who is authorized to receive <span class=\"dictionary\">service of process<\/span> on behalf of the <span class=\"dictionary\">cotton handler<\/span>; and <a id=\"paragraph-227086\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#B4\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"B5\" class=\"indent-1\"><p><span class=\"prefix-number\">5.<\/span> The form of business organization that the <span class=\"dictionary\">cotton handler<\/span> will assume. If the applicant will be doing business as a sole proprietorship, he shall disclose the full name of the sole proprietor and the name under which the sole proprietor will be doing business. If the applicant will be doing business as a partnership, he shall disclose the full name of each of the partners, the name of the partnership, and the name under which the partnership will be doing business. If the applicant will be doing business as a corporation, he shall disclose the full name of each of the officers of the corporation, the name of the corporation, and the name under which the corporation will be doing business. If the applicant will be doing business as a limited liability company or foreign limited liability company, he shall disclose the full name of the manager of the company, the name of the company, and the name under which the company will be doing business as a <span class=\"dictionary\">cotton handler<\/span>. If the company has no manager, the applicant shall disclose the full names of the members of the company. <a id=\"paragraph-227087\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#B5\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"C\"><p><span class=\"prefix-number\">C.<\/span> The applicant shall submit with the application a nonrefundable application fee of $50. <a id=\"paragraph-227088\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#C\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"D\"><p><span class=\"prefix-number\">D.<\/span> Every person submitting an application for a license as a <span class=\"dictionary\">cotton handler<\/span> who will be doing business as a <span class=\"dictionary\">cotton gin<\/span> or <span class=\"dictionary\">cotton merchant<\/span> shall furnish at the time of application for a license a <span class=\"dictionary\">bond<\/span> in the amount of $50,000 in accordance with &#xA7; <a class=\"law\" title=\"Execution and terms of bond; action\" href=\"\/3.2-4767\/\">3.2-4767<\/a>. Nothing in this subsection shall require a person doing business as a <span class=\"dictionary\">cotton gin<\/span> to be separately licensed or bonded as a <span class=\"dictionary\">cotton merchant<\/span>. <a id=\"paragraph-227089\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#D\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"E\"><p><span class=\"prefix-number\">E.<\/span> Except as otherwise provided in subsection F, every person making application for a license as a <span class=\"dictionary\">cotton handler<\/span> doing business as a <span class=\"dictionary\">cotton warehouse<\/span> shall furnish, at the time of application for the license, proof of insurance with a company licensed to do business in the Commonwealth in an amount equal to the fair market value of the maximum amount of cotton that can be stored in the warehouse, and a <span class=\"dictionary\">bond<\/span> in the amount of $500,000 in accordance with &#xA7; <a class=\"law\" title=\"Execution and terms of bond; action\" href=\"\/3.2-4767\/\">3.2-4767<\/a>. <a id=\"paragraph-227090\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#E\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"F\"><p><span class=\"prefix-number\">F.<\/span> In lieu of satisfying the requirements of subsection E, a <span class=\"dictionary\">cotton handler<\/span> doing business solely as a <span class=\"dictionary\">cotton warehouse<\/span> may furnish proof of a valid license issued pursuant to the United States Warehouse Act (USWA) (7 U.S.C. &#xA7; 241 et seq.). A <span class=\"dictionary\">cotton handler<\/span> governed by this subsection shall notify the <span class=\"dictionary\">Commissioner<\/span> of any change in the status of its USWA license within 24 hours after being notified by the U.S. <span class=\"dictionary\">Department<\/span> of Agriculture. <a id=\"paragraph-227091\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/3.2-4765\/#F\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nLICENSE REQUIRED; APPLICATION; LICENSE FEE AND BOND (\u00a7 3.2-4765)\n\nA. No person shall do business as a cotton handler without first obtaining a\nlicense from the Commissioner.\n\nB. Every person intending to do business as a cotton handler, shall make\napplication to the Commissioner for a license on or before July 1 of each year\non a form provided by the Commissioner. Any license granted by the Commissioner\nshall expire on June 30 following the date of issuance. The application shall\nspecify:\n\n   1. An address where the applicant will receive correspondence by first-class\n   mail;\n\n   2. Every address where the records of the cotton handler will be kept;\n\n   3. Every address, including street address, building number, and city or town:\n   \t\t\t\ta. In the case of a cotton gin, where the cotton will be ginned; or\n   \t\t\t\tb. In the case of a cotton warehouse, where the cotton will be warehoused;\n\n   4. The full name and first-class mail address, including the street, city or\n   town, and state, of a person who is authorized to receive service of process\n   on behalf of the cotton handler; and\n\n   5. The form of business organization that the cotton handler will assume. If\n   the applicant will be doing business as a sole proprietorship, he shall\n   disclose the full name of the sole proprietor and the name under which the\n   sole proprietor will be doing business. If the applicant will be doing\n   business as a partnership, he shall disclose the full name of each of the\n   partners, the name of the partnership, and the name under which the\n   partnership will be doing business. If the applicant will be doing business as\n   a corporation, he shall disclose the full name of each of the officers of the\n   corporation, the name of the corporation, and the name under which the\n   corporation will be doing business. If the applicant will be doing business as\n   a limited liability company or foreign limited liability company, he shall\n   disclose the full name of the manager of the company, the name of the company,\n   and the name under which the company will be doing business as a cotton\n   handler. If the company has no manager, the applicant shall disclose the full\n   names of the members of the company.\n\nC. The applicant shall submit with the application a nonrefundable application\nfee of $50.\n\nD. Every person submitting an application for a license as a cotton handler who\nwill be doing business as a cotton gin or cotton merchant shall furnish at the\ntime of application for a license a bond in the amount of $50,000 in accordance\nwith &#xA7; 3.2-4767. Nothing in this subsection shall require a person doing\nbusiness as a cotton gin to be separately licensed or bonded as a cotton\nmerchant.\n\nE. Except as otherwise provided in subsection F, every person making application\nfor a license as a cotton handler doing business as a cotton warehouse shall\nfurnish, at the time of application for the license, proof of insurance with a\ncompany licensed to do business in the Commonwealth in an amount equal to the\nfair market value of the maximum amount of cotton that can be stored in the\nwarehouse, and a bond in the amount of $500,000 in accordance with &#xA7;\n3.2-4767.\n\nF. In lieu of satisfying the requirements of subsection E, a cotton handler\ndoing business solely as a cotton warehouse may furnish proof of a valid license\nissued pursuant to the United States Warehouse Act (USWA) (7 U.S.C. &#xA7; 241\net seq.). A cotton handler governed by this subsection shall notify the\nCommissioner of any change in the status of its USWA license within 24 hours\nafter being notified by the U.S. Department of Agriculture.\n\nHISTORY: 2000, c. 584, \u00a7\u00a7 3.1-722.30 to 3.1-722.32; 2008, c. 860.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}