Section 49-45-16.1 – Receiver–Powers and duties.
49-45-16.1. Receiver–Powers and duties. If the commission determines that it is necessary, the commission may apply to the circuit court in the county in which the grain buyer operates or operated for that court to appoint a receiver. The receiver shall have such powers and duties as the court may direct. Source: SL 2011, ch […]
Section 49-45-17 – Recovery of damages for breach of obligation under bond–Notice to commission–Time for commission response.
49-45-17. Recovery of damages for breach of obligation under bond–Notice to commission–Time for commission response. Any person injured by the breach of any obligation of a grain buyer, for the performance of which a bond has been given under any of the provisions of this chapter, may sue on the bond in the person’s own […]
Section 49-45-18 – Audit of scale tickets–Certification of quantity and class of grain.
49-45-18. Audit of scale tickets–Certification of quantity and class of grain. If the commission becomes aware of any act by any grain buyer as described in §49-45-16, the commission may: (1)Undertake an immediate audit and verify the names and addresses of all outstanding scale ticket holders as revealed by the audit, and audit and certify […]
Section 49-45-8 – Fee for license application–Waiver.
49-45-8. Fee for license application–Waiver. The application for a grain buyer license shall be accompanied by a fee of two hundred seventy-five dollars for each municipality or location at which the grain buyer receives grain. If the grain buyer making application for a license also holds a license to operate a public grain warehouse or […]
Section 49-45-9 – Bond requirements–Violation as misdemeanor–Amount.
49-45-9. Bond requirements–Violation as misdemeanor–Amount. Before any grain buyer license is issued by the commission, the applicant shall file with the commission a bond conditioned to secure the faithful performance of the applicant’s obligations as a grain buyer and full and unreserved compliance with the laws of this state and the rules of the commission, […]
Section 49-45-9.1 – Filing of financial documents in lieu of bond.
49-45-9.1. Filing of financial documents in lieu of bond. If the commission determines, because a corporate surety company becomes insolvent or ceases to write grain buyer bonds in this state, that a bond in the sum required by §49-45-9 cannot be executed, or if a grain buyer is in the process of chapter 11 reorganization […]
Section 49-45-10 – Payment for grain by buyer.
49-45-10. Payment for grain by buyer. A grain buyer shall pay the purchase price to the owner or the owner’s agent for grain upon delivery or demand of the owner or agent unless payment is to be made in accordance with the terms of a voluntary credit sale which complies with the requirements of this […]
Section 49-45-10.1 – Uniform scale tickets or receipts.
49-45-10.1. Uniform scale tickets or receipts. Upon receiving grain, a grain buyer shall issue to the seller an original uniform scale ticket or comparable receipt for each load of grain received. Tickets or receipts shall be numbered consecutively and a copy of each ticket or receipt shall be retained for six years. Source: SL 2008, […]
Section 49-45-11 – Voluntary credit sales.
49-45-11. Voluntary credit sales. Each voluntary credit sale of grain entered into by a grain buyer shall be in writing and shall have a settlement date. If a grain buyer meets the requirements set forth in §57A-2-201(3)(d)(iii) when entering into a voluntary credit sale contract with a seller, the in writing requirement is considered met. […]
Section 49-45-13 – Inspection of buyers’ facilities–Examination of books–Subpoena power.
49-45-13. Inspection of buyers’ facilities–Examination of books–Subpoena power. The commission shall cause the business facilities of every grain buyer, whether licensed or unlicensed, to be inspected at such times as the commission considers necessary. The inspector shall report in writing to the commission the result of the examination. The inspector may at any time during […]