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 […]
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 […]
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 […]
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, […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
49-45-19. Grain buyer license—Revocation—Filing of claims. Upon the revocation of a grain buyer license, any claim against the grain buyer arising under this chapter must be made in writing and filed with the commission, within ninety days after receiving notice of the revocation. Upon the revocation of a grain buyer license, the commission shall: (1)Once […]
49-45-21. Commission authorized to contract for inspection of grain buyers’ assessment and checkoff records. The commission may contract with the Wheat Commission pursuant to §38-10-41, with the South Dakota Oilseeds Council pursuant to §38-27-19, the Soybean Research and Promotion Council pursuant to §38-29-14, the South Dakota Corn Utilization Council pursuant to §38-32-24, and the South […]
49-45-22. Class A license requirements–Violation as misdemeanor. A grain buyer with a Class A license shall keep all company owned grain in the grain buyer’s possession insured at current market value of the grain against loss by fire, windstorm, and extended coverage risks. The grain buyer shall furnish the commission with proof of the insurance […]
49-45-23. Records of grain purchased and contracts. A grain buyer shall keep all records of grain purchased and all contracts issued and canceled in a safe place. The records shall be kept current and open for inspection by the commission. Each record shall be retained for a period of six years. Source: SL 2008, ch […]
49-45-24. Notice of destruction of or damage to facility. A grain buyer shall notify the commission, within twenty-four hours, if the facility of a facility-based grain buyer is destroyed or substantially damaged. Source: SL 2008, ch 251, §22.
49-45-25. Grain buyer’s financial condition–Notice to commission–Penalty–Civil fine. If during the licensing period a grain buyer becomes aware that the grain buyer is not in compliance with each financial standard, as set forth in the commission’s rules, the grain buyer shall immediately notify the commission of the grain buyer’s financial condition. When notification occurs, the […]
49-45-26. Provision of requested records–Penalty–Civil fine. A grain buyer, the owner, manager, or chief executive officer of a grain buyer, or any other person in a managerial position, whether licensed or unlicensed, who or that purchases grain in this state, shall, within five working days of an inspector’s request, provide to the inspector, at a […]
49-45-27. Owner, manager, or chief executive officer responsible for violation is subject to criminal penalty. The owner, manager, or chief executive officer of a grain buyer, or any other person in a managerial position, who is responsible for any violation of this chapter by a grain buyer is subject to any criminal penalty that applies […]
