{"data":{"id":"us-ky/krs-251.340","jurisdiction":"us-ky","citation":"KRS 251.340","heading":"Purpose of chapter.","body":"(1) The purpose of this chapter is to promote the welfare of the Commonwealth and its\npeople, and to provide economic stability for its agricultural and agribusiness\nindustries, by:\n(a) Establishing a system of licensure for persons engaging in the business of\ngrain dealing;\n(b) Establishing a system of licensure for persons engaging in the business of\ngrain warehouse operating; and\n(c) Establishing a grain insurance fund of which the purpose is to:\n1. Protect producers of fund-covered grains against risk of loss in the event\nof a licensed grain dealer's or grain warehouse operator's financial\nfailure; and\n2. Compensate eligible claimants of fund -covered grains for losses due to\nthe failure of a licensed grain dealer or grain warehouse operator.\n(2) The board, i n conjunction with the department, shall be responsible for adopting\nand overseeing the policies, procedures, and programs to effectuate the purposes\nidentified in this section.","path":["KRS Chapter 251"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=49410","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:04Z","sha256":"a936250a15be4fa9ef9b6b9e9748c89adfa69fb1c6a80251728217090c3a5af2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-251.330","next":"us-ky/krs-251.345"},"notice":"GroundRules: Original legal text. Not legal advice."}