49-45-22. Class A license requirements--Violation as misdemeanor.
A grain buyer with a Class A license shall keep all company owned grain in the grain buyer's possession insured at current market value of the grain against loss by fire, windstorm, and extended coverage risks. The grain buyer shall furnish the commission with proof of the insurance when the grain buyer applies for a license. A grain buyer with a Class A license shall submit a quarter-ending balance sheet to the commission for inspection within thirty days of the end of each quarter. The balance sheet reports shall be based on each grain buyer's fiscal year. A violation of this section is a Class 1 misdemeanor.
Source: SL 2008, ch 251, §20; SL 2018, ch 268, §3.
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.