49-43-35. Grain bank accounts--Establishment and maintenance.
Any grain delivered by a depositor to a public grain warehouse for a grain bank account shall be considered stored grain and is covered by the warehouse bond required pursuant to §49-43-5.3. Notwithstanding §49-43-2.1, a negotiable warehouse receipt need not be given to a depositor for any grain delivered for a grain bank account. However, the public grain warehouseman shall establish and maintain all grain bank accounts in a separate ledger which shall show the dates any grain was received from or redelivered to the depositor and the amount and quality of the grain which was received or redelivered. Any grain delivered into a grain bank account shall be a bailment and title to the grain shall remain with the depositor. The warehouseman shall keep sufficient grain inventory to cover all grain bank obligations. The grain bank ledger shall be kept current and show the latest activity date. Any storage, receiving, handling or redelivery charges adopted by the commission pursuant to §49-43-7 do not apply to grain banks. However, the public grain warehouseman and depositor may agree on a service fee by contract for the storage of grain in a grain bank account. If the last grain in a grain bank account is redelivered to the depositor, or as agreed by contract between the parties, the public grain warehousemen shall give the depositor a settlement sheet showing the dates, amount and quality of grain received, redelivered, and the amount of any service fees.
Source: SL 1994, ch 359, §2.
Structure South Dakota Codified Laws
Title 49 - Public Utilities and Carriers
Chapter 43 - Public Grain Warehouses
Section 49-43-1 - Grain delivered to warehouse considered stored--Other arrangements--Settlement.
Section 49-43-1.1 - Definitions.
Section 49-43-2 - Delivery constitutes bailment rather than sale.
Section 49-43-2.1 - Receipt for stored grain required--Exceptions--Form--Violation as misdemeanor.
Section 49-43-3 - Grain stored under receipt not liable to seizure--Insolvency of bailee.
Section 49-43-4.1 - Promulgation of rules.
Section 49-43-4.2 - Public grain warehouse license--Penalty--Injunction--Civil fine.
Section 49-43-4.3 - Bond requirement--Violation as misdemeanor.
Section 49-43-4.4 - Issuance or denial of license.
Section 49-43-4.5 - Expiration of license--Revocation or suspension.
Section 49-43-5.1 - Application for license--Contents--Multiple warehouses of licensee.
Section 49-43-5.2 - Application fee.
Section 49-43-5.3 - Purpose of bond--Amount--Multiple warehouses.
Section 49-43-5.5 - Filing of other financial documents in lieu of bond.
Section 49-43-5.6 - Grounds for suspension of license.
Section 49-43-5.8 - Possession of warehouse by commission--Notification of surety.
Section 49-43-5.9 - Claim against warehouseman--Time limitation--Notice of revocation of license.
Section 49-43-7 - Filing of rates charged by grain warehouse--Adjustment--Nondiscrimination.
Section 49-43-10 - Yearly grain measurement--Additional reports--Violation as misdemeanor.
Section 49-43-11 - Duty to receive grain--Exceptions--Violation as misdemeanor.
Section 49-43-13 - Notice of market value of grain and accrued storage charges.
Section 49-43-14 - Issuance of new receipts--Cancellation of old receipts.
Section 49-43-15 - Conditions to issuance of receipt--Violation as misdemeanor.
Section 49-43-17 - Modification of warehouseman's liability prohibited.
Section 49-43-18 - Cancellation of receipt upon delivery of grain--Double delivery prohibited.
Section 49-43-19 - Partial delivery of grain--Issuance of new receipt--Terms of new receipt.
Section 49-43-21 - Warehouseman prohibited from denying title of receipt holder.
Section 49-43-22 - Duty to redeliver grain.
Section 49-43-25 - Refusal to deliver grain as theft.
Section 49-43-32 - Warehouseman agreeing to delivery contrary to owner's directions as misdemeanor.
Section 49-43-33 - Pooling agreements between competing warehousemen as misdemeanor.
Section 49-43-35 - Grain bank accounts--Establishment and maintenance.
Section 49-43-36 - Open storage grain considered stored grain.
Section 49-43-37 - Insurance of grain against loss--Violation as misdemeanor.
Section 49-43-38 - Records to be kept in safe place--Inspection.
Section 49-43-39 - Notice of damage to or destruction of warehouse.
Section 49-43-40 - Inspection of grain warehouses--Subpoena power and examination of witnesses.
Section 49-43-41 - Provision of requested records--Civil fine.
Section 49-43-42 - Memorandum of adjustments.
Section 49-43-43 - Provisions regarding uniform warehouse receipts applicable.
Section 49-43-45 - Issuance of receipt with false statement as misdemeanor.
Section 49-43-50 - Appeal of commission decision.
Section 49-43-51 - Falsely weighing agricultural product as misdemeanor.
Section 49-43-52 - Grain and warehouse fund established.
Section 49-43-54 - Contract with independent provider to maintain electronic warehouse receipts.
Section 49-43-55 - Commission approval of independent provider--Revocation of approval.
Section 49-43-56 - Maintenance of secure electronic central filing system--Promulgation of rules.
Section 49-43-57 - Depositor right to paper warehouse receipt.