Louisiana Agricultural Commodies Commission
In 1982 the Louisiana Agricultural Commodities Commission (LACC) was established as the successor of the State Warehouse Commission. LACC is comprised of nine members nominated by various industries and appointed by the commissioner. LACC is charged with the responsibilities of regulating warehouses, cotton merchants, and grain dealers doing business in Louisiana. The commodities which the commission regulates are:
- Sugar - Oats
- Cotton - Rye
- Rice - Soybeans
- Barley - Grain Sorghum
- Corn - Wheat
* Also, any other agricultural commodity which the commission declares to be a commodity.
Prior to issuing licenses the LACC requires a financial statement, proof of provisional stock insurance, a bond to provide for monetary security and other support documents presented to the commission. All financial statements are carefully reviewed for financial stability to assure the Louisiana farmer payment for his product. LACC issues three types of licenses in accordance with Louisiana law: Cotton Merchant License, Grain Dealer License and Warehouse License.