ENTITLED, An Act to  revise the definition of a grain dealer.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That § 49-45-1.1 be amended to read as follows:
     49-45-1.1.   Terms used in this chapter mean:

             (1)      "Commission," the Public Utilities Commission;

             (2)      "Grain," grain, grain sorghums, beans, and oil seeds. However, the term does not include grain that has been cleaned, processed and specifically identified for an intended use of planting for reproduction and for which a grain warehouse receipt has not been issued;

             (3)      "Grain dealer," any person who buys grain for the purpose of resale. However, nothing in this chapter applies to the isolated or occasional resale of grain by a person who does not hold himself or herself out as engaging in the business of reselling grain or to a person who purchases grain for the person's own use or consumption. The word, use, or the word, consumption, as used in this subdivision, does not mean the sale of the grain at retail or wholesale;

             (4)      "Person," any natural person, firm, corporation, company, limited liability company, partnership, association, joint stock company or the lessee, trustee or receiver appointed by any court for any one of the foregoing;

             (5)      "Voluntary credit sale," a sale of grain or seeds pursuant to which the sale price is to be paid more than thirty days after the delivery or release of the grain for sale, including those contracts commonly referred to as deferred-payment contracts, deferred-pricing contracts and price-later contracts.

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An Act to revise the definition of a grain dealer.

========================= I certify that the attached Act originated in the HOUSE as Bill No. 1050

____________________________
Chief Clerk

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____________________________
Speaker of the House

Attest:

____________________________
Chief Clerk

____________________________
President of the Senate

Attest:

____________________________
Secretary of the Senate

House Bill No. 1050
File No. ____
Chapter No. ______     =========================
Received at this Executive Office this _____ day of _____________ ,

20____ at ____________ M.

By _________________________
for the Governor

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The attached Act is hereby approved this ________ day of ______________ , A.D., 20___

____________________________
Governor

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STATE OF SOUTH DAKOTA,

ss.

Office of the Secretary of State

Filed ____________ , 20___
at _________ o'clock __ M.

____________________________
Secretary of State

By _________________________
Asst. Secretary of State