40-15A-5. Bond required of dealer, packer or packer buyer--Proof of bond filed under federal law--Exemption for employees of bonded packers--Board as obligee--Promulgation of rules--Violation as misdemeanor.
Every livestock dealer, packer or packer buyer applying for a license under this chapter shall file with the animal industry board and maintain a fully executed duplicate of a valid and effective bond in the form and amount to be determined by the board. If the livestock dealer, packer, or packer buyer is registered and bonded under the provisions of an act of Congress cited as the "Packers and Stockyards Act, 1921," adopted August 15, 1921, as amended to January 1, 2002, and codified at 7 U.S.C. Chapter 9, the livestock dealer, packer, or packer buyer shall file a statement in the form prescribed by the board evidencing that the livestock dealer, packer, or packer buyer is maintaining a valid and effective bond or its equivalent under said act. If a packer buyer is in full-time employ of a packer bonded under this section, the packer buyer need not be bonded. The bond shall be for the benefit of all persons sustaining a loss which may be covered by the obligation of the bond. The obligee of the bond shall be the Animal Industry Board with the executive secretary of the board as trustee, with full power and authority to consider claims and pay valid claims from bond proceeds subject to applicable federal law. The Animal Industry Board may promulgate rules, pursuant to chapter 1-26, to establish procedures for the consideration, processing, and payment of claims from bond proceeds in accordance with this section. Any livestock dealer, packer, or packer buyer in violation of this section is guilty of a Class 1 misdemeanor.
Source: SL 1972, ch 221, §10; SL 1975, ch 259, §3; SL 1990, ch 325, §280; SL 2002, ch 191, §6.
Structure South Dakota Codified Laws
Title 40 - Animals and Livestock
Chapter 15A - Livestock Dealers Packers And Packer Buyers
Section 40-15A-1 - Definition of terms.
Section 40-15A-1.1 - License as dealer, packer, or packer buyer required--Violation as misdemeanor.
Section 40-15A-2 - Auction agencies, farmers, ranchers, and livestock feeders exempt.
Section 40-15A-3 - Annual application for dealer's, packer's, or packer buyer's license--Contents.
Section 40-15A-4 - Fee for license--Duration of license.
Section 40-15A-6 - Time and place for hearing on application--Notice to livestock associations.
Section 40-15A-7 - License posted in place of business--Pocket card.
Section 40-15A-8 - Facilities provided by dealer--Unloading and inspection of livestock.
Section 40-15A-8.2 - Records required to be kept by licensees.
Section 40-15A-9 - Fees credited to general fund.
Section 40-15A-10 - Grounds for revocation or refusal of license.