§ 49-45-6 Supervision of grain buyers--Promulgation of rules.

SD Codified L § 49-45-6 (2019) (N/A)

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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 relating 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 for posting grain buyer's licenses;

(3) Requirements and procedures for obtaining, placing, and returning grain buyer decals and replacement decals;

(4) Notice requirements to sellers who enter into voluntary credit sale agreements;

(5) Requirements for filing financial statements with the commission and the financial standards by which the statements are approved when considering whether to license a grain buyer;

(6) Requirements for grain buyers to provide information to sellers regarding the statutes and rules relating to grain buyers;

(7) Requirements and procedures for releasing bonds; and

(8) Procedures and requirements for license suspension, revocation, transfer of ownership, or insolvency by a grain buyer.Source: SL 1985, ch 376, § 70; SL 1986, ch 22, § 26; SL 1990, ch 371, § 7; SL 1992, ch 332, § 6; SL 2008, ch 251, § 4; SL 2011, ch 211, § 6.

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§ 49-45-7 Application for license--Contents--Issuance or denial--Multiple warehouses of licensee.