49-45-11 Voluntary credit sales.
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.