49-45-11. Voluntary credit sales.
Each voluntary credit sale of grain entered into by a grain buyer shall be in writing and shall have a settlement date. If a grain buyer meets the requirements set forth in §57A-2-201(3)(d)(iii) when entering into a voluntary credit sale contract with a seller, the in writing requirement is considered met. The commission may, by rules promulgated pursuant to chapter 1-26, prescribe the form and content of the writings. If a grain buyer's license is terminated or not renewed, the grain buyer shall pay for grain subject to a voluntary credit sale within ten days after the license expiration date.
Source: SL 1985, ch 376, §76; SL 2008, ch 251, §11; SL 2015, ch 236, §1.
Structure South Dakota Codified Laws
Title 49 - Public Utilities and Carriers
Section 49-45-1 - Grain buyer's license--Penalty--Civil fine.
Section 49-45-1.1 - Definitions.
Section 49-45-3 - Expiration, revocation, and suspension of license--Appeal.
Section 49-45-6 - Supervision of grain buyers--Promulgation of rules.
Section 49-45-7.1 - Classes of grain buyer's license.
Section 49-45-8 - Fee for license application--Waiver.
Section 49-45-9 - Bond requirements--Violation as misdemeanor--Amount.
Section 49-45-9.1 - Filing of financial documents in lieu of bond.
Section 49-45-10 - Payment for grain by buyer.
Section 49-45-10.1 - Uniform scale tickets or receipts.
Section 49-45-11 - Voluntary credit sales.
Section 49-45-13 - Inspection of buyers' facilities--Examination of books--Subpoena power.
Section 49-45-13.1 - Memorandum of adjustments--Civil fine for failure to comply.
Section 49-45-14 - Reports by buyers--Public inspection not permitted--Violation as misdemeanor.
Section 49-45-16 - Grounds for suspension of grain buyer's license--Hearing--Revocation.
Section 49-45-16.1 - Receiver--Powers and duties.
Section 49-45-18 - Audit of scale tickets--Certification of quantity and class of grain.
Section 49-45-19 - Grain buyer license—Revocation—Filing of claims.
Section 49-45-22 - Class A license requirements--Violation as misdemeanor.
Section 49-45-23 - Records of grain purchased and contracts.
Section 49-45-24 - Notice of destruction of or damage to facility.
Section 49-45-25 - Grain buyer's financial condition--Notice to commission--Penalty--Civil fine.
Section 49-45-26 - Provision of requested records--Penalty--Civil fine.
Section 49-45-29 - Grain broker--Prohibited activities--Penalty--Civil fine.