49-43-1. Grain delivered to warehouse considered stored--Other arrangements--Settlement. Any grain delivered to a public grain warehouse shall be considered stored at the time of delivery unless an arrangement has been made with the public grain warehouse operator prior to or at the time of delivery to apply the grain on contract, for shipment or consignment, or for cash sale. Grain may be held in open storage, a grain bank account, or placed on a warehouse receipt. The warehouse shall issue a scale ticket for any grain received by the warehouse. The warehouse shall keep sufficient grain inventory to cover all stored grain. Settlement for all grain stored or sold shall be made immediately on demand by the owner.
Source: SDC 1939, § 60.0314; SL 1973, ch 287, § 1; SL 1985, ch 376, § 22; SL 2008, ch 249, § 1.