South Dakota Codified Laws
Chapter 45 - Grain Buyers
Section 49-45-9.1 - Filing of financial documents in lieu of bond.

49-45-9.1. Filing of financial documents in lieu of bond.
If the commission determines, because a corporate surety company becomes insolvent or ceases to write grain buyer bonds in this state, that a bond in the sum required by §49-45-9 cannot be executed, or if a grain buyer is in the process of chapter 11 reorganization and a bond cannot be obtained, the commission may authorize the filing of other financial documents in lieu of a corporate surety bond.

Source: SL 2008, ch 251, §8; SL 2009, ch 249, §1, eff. Mar. 11, 2009.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 49 - Public Utilities and Carriers

Chapter 45 - Grain Buyers

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 - Application for license--Contents--Issuance or denial--Multiple warehouses of licensee.

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 49-45-17 - Recovery of damages for breach of obligation under bond--Notice to commission--Time for commission response.

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 49-45-21 - Commission authorized to contract for inspection of grain buyers' assessment and checkoff records.

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 49-45-27 - Owner, manager, or chief executive officer responsible for violation is subject to criminal penalty.

Section 49-45-28 - Parent company furnishing financial statements responsible for financial obligations of licensed entity.

Section 49-45-29 - Grain broker--Prohibited activities--Penalty--Civil fine.