49-43-59. Surrender of electronic warehouse receipt to commission--Grain receivership--Surety bond claim.
An independent provider shall allow for the commission to be a sole or joint holder of an electronic warehouse receipt if the issuing warehouse operator's license has been revoked and at least one of the following applies:
(1)The electronic warehouse receipt has been surrendered to the commission by a claimant for the proceeds of a grain receivership pursuant to this chapter; or
(2)The electronic warehouse receipt has been surrendered to the commission by a claimant for payment of a surety bond claim pursuant to this chapter.
If an electronic receipt holder files a claim against a grain receivership or against the surety bond, the commission shall obtain the consent and instruction of the holder to change the holder information on the independent provider's central filing system. The independent provider shall take any action ordered by the commission in regard to an electronic warehouse receipt involved with a grain receivership or a surety bond claim. The commission shall provide documentary evidence of the claim and any resulting required action to the independent provider.
Source: SL 2012, ch 232, ยง7.
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.