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 49-45-1 – Grain buyer’s license–Penalty–Civil fine.
49-45-1. Grain buyer’s license–Penalty–Civil fine. Before transacting the business of a grain buyer in this state, a person shall obtain a grain buyer license from the commission. A violation of this section is a Class 5 felony if the person holds himself or herself out to be a grain broker and a Class 1 misdemeanor […]
Section 49-45-1.1 – Definitions.
49-45-1.1. Definitions. Terms used in this chapter mean: (1)”Commission,” the Public Utilities Commission; (2)”Grain,” grain, grain sorghums, beans, pulse crops, and oil seeds. The term does not include grain that has been cleaned, processed, and specifically identified for an intended use of planting for reproduction, grain received for consignment that will be processed by the […]
Section 49-45-3 – Expiration, revocation, and suspension of license–Appeal.
49-45-3. Expiration, revocation, and suspension of license–Appeal. Each license issued pursuant to §49-45-1 expires on the next June thirtieth following the issuance of the license. The commission may at any time for cause shown revoke or suspend any grain buyer license. However, the grain buyer has the right of appeal from such decisions as provided […]
Section 49-45-6 – Supervision of grain buyers–Promulgation of rules.
49-45-6. Supervision of grain buyers–Promulgation of rules. The commission shall supervise the business of grain buyers in this state and administer the laws in relation thereto. The commission may promulgate rules, pursuant to chapter 1-26, concerning: (1)The form of a grain buyer’s bond and application and the information required to be included for licensing; (2)Requirements […]
Section 49-45-7 – Application for license–Contents–Issuance or denial–Multiple warehouses of licensee.
49-45-7. Application for license–Contents–Issuance or denial–Multiple warehouses of licensee. An application for a grain buyer license shall be filed with the commission and shall be in a form prescribed by the commission. The application shall set forth the name of each owner or principal in the management of the business and shall contain financial information […]
Section 49-45-7.1 – Classes of grain buyer’s license.
49-45-7.1. Classes of grain buyer’s license. An applicant may apply for a Class A grain buyer’s license or a Class B grain buyer’s license. No grain buyer with a Class B grain buyer’s license may purchase grain in excess of five million dollars for the annual licensed period or enter into voluntary credit sale contracts. […]