37-4-1. Exchanges subject to chapter--Small-volume exchanges exempt.
Every chamber of commerce, board of trade or exchange maintaining or operating a regular place of business or trading room for members only, in which the members buy, sell, or exchange grain, livestock, or other farm products for themselves or for others, is hereby declared to be a public market subject to the provisions of this chapter. This chapter shall not apply to any such exchange or market whose total annual volume of transfers or exchanges does not exceed three million bushels of grain, or one hundred thousand head of livestock, or two million pounds of butterfat.
Source: SDC 1939, ยง54.0801.
Structure South Dakota Codified Laws
Chapter 04 - Public Commodity Exchanges
Section 37-4-1 - Exchanges subject to chapter--Small-volume exchanges exempt.
Section 37-4-2 - Open membership required of exchanges--Cooperatives included.
Section 37-4-3 - Members to comply with rules, regulations, and bylaws--Fees and assessments.
Section 37-4-4 - Exchange rules controlling distribution of member profits deemed unreasonable.
Section 37-4-5 - Denial of membership by exchange as misdemeanor--Refusal to deal with member.