Section 248. Dealers to be licensed and to provide security and to deposit fee

1. (a) No person shall act as a dealer unless licensed as  provided  in  this  article. Application shall be made upon such forms and at such
  times as prescribed by the commissioner. Renewal applications  shall  be
  submitted  to  the  commissioner  at  least  thirty  days  prior  to the
  commencement of the next license  year.  No  action  will  be  taken  on
  applications  deemed incomplete by the commissioner. The applicant shall
  furnish evidence of his or her  good  character,  financial  statements,
  prepared and certified by a certified public accountant when required by
  the  commissioner,  and  evidence  that  he or she has adequate physical
  facilities for receiving and handling farm products or  processing  farm
  products  if  he  or  she is to act as a dealer. The commissioner, if so
  satisfied, shall  issue  to  such  applicant,  upon  payment  of  twenty
  dollars,  and  upon  the  filing  of a bond or letter of credit and upon
  payment of a  fee  to  be  deposited  into  the  agricultural  producers
  security fund as hereinafter provided, a license entitling the applicant
  to conduct the business of a dealer in farm products for a period of one
  year.  Notwithstanding any other provision of this section, an applicant
  who intends to pay and a licensee who pays upon delivery  for  purchases
  of  farm products from producers, in cash, or cash equivalent, including
  only certified or bank check, money order, electronic funds transfer, or
  by debit card, shall be exempt from filing a bond or letter  of  credit.
  In the event that a licensee who has been so exempted from filing a bond
  or letter of credit fails to pay cash or a cash equivalent upon delivery
  for  any  purchase of farm products from a producer, such licensee shall
  file a bond or letter of credit as otherwise required  by  this  section
  with  the commissioner no later than ten business days from the date the
  commissioner notifies the licensee that such bond or letter of credit is
  required.
    (b) The commissioner is authorized to stagger the commencement of  the
  license  year among licensees, and shall prorate the license application
  fee  and  agricultural  producers   security   fund   fee   accordingly.
  Notwithstanding  any  other  provision  of  law  to  the  contrary,  the
  commissioner is hereby authorized and directed to  deposit  all  license
  fees  received  pursuant  to  this section in the agricultural producers
  security fund.
    2. Before commencing or doing any business for the time  for  which  a
  license  has  been  issued, said license shall be enclosed in a suitable
  wood or metal frame having a clear glass space and a substantial wood or
  metal back so that the whole of said license may be  seen  therein,  and
  shall be posted and at all times displayed in a conspicuous place in the
  room  where  such  business  is carried on, so that all persons visiting
  such place may readily see the same.