(1) The annual licensing fee for each person engaged in the business of a commodity dealer is $464 per facility and for each person operating a public warehouse, the fee is $464 per location.

(2) A warehouse license is not required if the activities that would trigger the need for the license are completed for any customer within 72 hours of receiving the commodity, the commodity is returned to the original producer, and the business carries at least $50,000 in insurance covering the goods of its customers.