§1421.404. Financial security.

7 C.F.R. § 1421.404

(a)

In order to be approved to handle MALs and LDPs, a DMA must—

(1)

Have a current net worth ratio of at least 1— 1; and

(2)

Provide security equal to $100,000 or a greater amount as determined by CCC.

(b)

[Reserved]

Notes, amendments, and revision history

[80 FR 128, Jan. 2, 2015]

Source: 70 FR 33799, June 10, 2005, unless otherwise noted.

Authority: 7 U.S.C. 9031-9040 and 15 U.S.C. 714b and c.

[80 FR 128, Jan. 2, 2015]