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 […]
Section 49-45-13.1 – Memorandum of adjustments–Civil fine for failure to comply.
49-45-13.1. Memorandum of adjustments–Civil fine for failure to comply. Upon completing an inspection, an inspector may issue a memorandum of adjustments. The commission may assess a civil fine in the amount of two hundred dollars for failure to comply with the memorandum of adjustments within thirty days. After thirty days, each day that the memorandum […]
Section 49-45-14 – Reports by buyers–Public inspection not permitted–Violation as misdemeanor.
49-45-14. Reports by buyers–Public inspection not permitted–Violation as misdemeanor. Every grain buyer licensed in this state shall, at such times as the commission requires, furnish the commission on forms prepared by the commission, reports showing the facts and information required by the commission. The reports are not for public inspection, but the commission may, upon […]
Section 49-45-16 – Grounds for suspension of grain buyer’s license–Hearing–Revocation.
49-45-16. Grounds for suspension of grain buyer’s license–Hearing–Revocation. The commission may immediately suspend the license of a grain buyer and the grain buyer shall surrender the license to the commission if: (1)The grain buyer refuses, neglects, or is unable, upon proper demand, to redeem any scale ticket issued by the grain buyer, through redelivery or […]
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 49-43-60 – Independent provider to be authorized to transact business in South Dakota–Jurisdiction–Venue–Liability for costs.
49-43-60. Independent provider to be authorized to transact business in South Dakota–Jurisdiction–Venue–Liability for costs. Prior to being approved as an independent provider by the commission, an independent provider shall be authorized to transact business in the State of South Dakota and shall consent to jurisdiction in the State of South Dakota and venue in Hughes […]
Section 49-43-61 – Parent company furnishing financial statements responsible for financial obligations of licensed entity.
49-43-61. Parent company furnishing financial statements responsible for financial obligations of licensed entity. If an applicant for a warehouse license that is a subsidiary of a parent company submits the financial statements of the parent company, the parent company furnishing the financial statements is responsible for all the financial obligations incurred by the licensed entity […]
Section 49-43-62 – Grain warehouse operator’s financial condition–Notice to commission–Penalty–Civil fine.
49-43-62. Grain warehouse operator’s financial condition–Notice to commission–Penalty–Civil fine. If during the licensing period a grain warehouse operator becomes aware that the grain warehouse is not in compliance with each financial standard, as set forth in the commission’s rules, the grain warehouse operator shall immediately notify the commission of the grain warehouse’s financial condition. When […]