(1) Any person operating a public grain warehouse who desires to discontinue the operation at the expiration of his or her license or whose license is suspended, revoked, or cancelled by the Public Grain Warehouse Commissioner or his or her designated representative shall notify the commissioner, all holders of warehouse receipts, and all parties storing grain in the public grain warehouse, if known, or if not known, by advertising in the newspaper of largest general circulation in the community in which the public grain warehouse is located weekly for four (4) consecutive weeks, at least thirty (30) days before the date of expiration of his or her license, of his or her intention to discontinue the public grain warehouse business.
(2) The owners of the grain shall remove or cause to be removed their grain from the public grain warehouse before the expiration of the license.