49-45-16. Grounds for suspension of grain buyer's license--Hearing--Revocation. The commission may immediately suspend the license of a grain buyer and the grain buyer shall surrender the license to the commission if:
(1) The grain buyer refuses, neglects, or is unable, upon proper demand, to redeem any scale ticket issued by the grain buyer, through redelivery or cash payment;
(2) The grain buyer refuses, neglects, or is unable to provide a bond in an amount required by the commission;
(3) The commission has knowledge of any act of insolvency, including the filing of a petition in bankruptcy naming the grain buyer as debtor; or
(4) The grain buyer refuses to submit to an inspection or cooperate with the lawful requests of a commission inspector, including requests for access to and copies of the books and records of the grain buyer.
Within fifteen days the grain buyer may request a hearing pursuant to chapter 1-26 to determine if the license should be revoked. If no request is made within fifteen days, the commission shall revoke the license.
Source: SL 1989, ch 404, § 5; SL 2008, ch 251, § 15; SL 2011, ch 211, § 10; SL 2013, ch 238, § 16, eff. Apr. 1, 2013.
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