49-45-7 Application for license--Contents--Issuance or denial--Multiple warehouses of licensee.
Application for license--Contents--Issuance or denial--Multiple warehouses of
An application for a grain buyer license shall be filed with the commission and shall be in
a form prescribed by the commission. The application shall set forth the name of each owner or
principal in the management of the business and shall contain financial information depicting the
financial condition of the business at the time of application. If the applicant is a corporation, the
application shall include the name of the president, secretary, and treasurer of the corporation. The
application shall also include the location of the principal office or place of business and any
additional place of business of the applicant. The application shall contain the affirmation statement
set forth in § 22-29-9.1. The application shall be signed by the owner, managing partner, or chief
executive officer of the applicant and shall be notarized.
Upon receipt of an application and sufficient bond as required by § 49-45-9, the commission may
grant the license applied for or may, for good cause shown and after notice and an opportunity for
hearing, deny the issuance of the license.
If a grain buyer has more than one grain buying facility in the same municipality, only one license
is required for all the grain buying facilities.
Source: SL 1985, ch 376, § 72; SL 1994, ch 359, § 7; SL 2008, ch 251, § 5; SL 2013, ch 238, § 10,
eff. Apr. 1, 2013; SL 2017, ch 200, § 5.