49-45-6 Supervision of grain buyers--Promulgation of rules.
Supervision of grain buyers--Promulgation of rules.
The commission shall supervise
the business of grain buyers in this state and administer the laws relating thereto. The commission
may promulgate rules, pursuant to chapter 1-26, concerning:
The form of a grain buyer's bond and application and the information required to be
included for licensing;
Requirements for posting grain buyer's licenses;
Requirements and procedures for obtaining, placing, and returning grain buyer decals and
Notice requirements to sellers who enter into voluntary credit sale agreements;
Requirements for filing financial statements with the commission and the financial
standards by which the statements are approved when considering whether to license a
Requirements for grain buyers to provide information to sellers regarding the statutes and
rules relating to grain buyers;
Requirements and procedures for releasing bonds; and
Procedures and requirements for license suspension, revocation, transfer of ownership,
or insolvency by a grain buyer.
SL 1985, ch 376, § 70; SL 1986, ch 22, § 26; SL 1990, ch 371, § 7; SL 1992, ch 332, § 6;
SL 2008, ch 251, § 4; SL 2011, ch 211, § 6.