The Grain Dealers Act gives regulatory responsibility to the Michigan Department of Agriculture and Rural Development (MDARD) and provides for:
the storage, warehousing, buying, and selling of farm produce within the State of Michigan
the licensing, regulation, and bonding of grain dealers
warehouse receipts and price later agreements and their priority
the creation of security interests
the establishment of an inspection service and personnel for licensed grain dealers
penalties for the violation of this act
A person shall not act or offer to act as a grain dealer without annually securing a license from MDARD.