<html> <head> <title>Rule 20:10:12:19 Notice requirements for transfer of ownership.</title> <META NAME="Keywords" Content="Administrative Rules 20:10:12:19"> <META NAME="Description" Content="Administrative Rules 20:10:12:19 Notice requirements for transfer of ownership."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 14 (filtered)"> <style> <!-- /* Font Definitions */ @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; text-align:justify; font-size:12.0pt; font-family:"Times New Roman","serif";} @page WordSection1 {size:8.5in 11.0in; margin:49.5pt 1.0in 49.5pt 63.0pt;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US> <div class=WordSection1> <p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size: 12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><span style='font-weight:bold'>20:10:12:19.&nbsp;&nbsp;Notice requirements for transfer of ownership.</span></b> At least 30 days before the transfer of ownership of a grain buyer's grain receiving facility licensed by the commission, the grain buyer shall notify, in writing, each producer who is due payment for grain delivered to the grain buyer, has an open voluntary credit sale contract, an open delivery contract, or any other open contract or written agreement pending with the licensee. The surety named in the grain buyer's bond shall also be notified of the pending transfer of ownership at least 30 days before the transfer. A licensed grain buyer who transfers ownership of a grain receiving facility licensed by the commission shall notify the commission of the pending transfer seven days before notifying open contract holders and the surety named in the grain buyer's bond.</span></font></p> <p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size: 12.0pt'>&nbsp;</span></font></p> <p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size: 12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><span style='font-weight:bold'>Source:</span></b> 40 SDR 39, effective September 9, 2013.</span></font></p> <p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size: 12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><span style='font-weight:bold'>General Authority:</span></b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-45-6">49-45-6(8).</A></span></font></p> <p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size: 12.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b><span style='font-weight:bold'>Law Implemented:</span></b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=49-45-6">49-45-6(8).</A></span></font></p> <p class=MsoNormal><font size=3 face="Times New Roman"><span style='font-size: 12.0pt'>&nbsp;</span></font></p> </div> </body> </html>