<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 49-43-5.6 - Grounds for suspension of license. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071046Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2071046SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071046CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071046Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2071046DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071046Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2071046Normal-000002 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2071046000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071046SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071046SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2071046Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.6"><span class="s2071046SENU">49-43-5.6</span></a><span xml:space="preserve" class="s2071046SENU">. </span><span class="s2071046CL">Grounds for suspension of license.</span></p><p dir="ltr" class="s2071046Normal-000000"><span class="s2071046DefaultParagraphFont">The commission may immediately suspend the license of a warehouse operator and the warehouse operator shall surrender the license to the commission if:</span></p><p dir="ltr" class="s2071046Normal-000001"><span class="s2071046DefaultParagraphFont">(1)    The warehouse operator, whether licensed or unlicensed, refuses, neglects, or is unable, upon proper demand, to redeem any warehouse receipt or scale ticket for grain in open storage or in grain bank issued by the warehouse operator, through redelivery or cash payment;</span></p><p dir="ltr" class="s2071046Normal-000001"><span class="s2071046DefaultParagraphFont">(2)    The warehouse operator refuses, neglects, or is unable to provide a bond in an amount required by the commission;</span></p><p dir="ltr" class="s2071046Normal-000001"><span class="s2071046DefaultParagraphFont">(3)    The commission has knowledge of any act of insolvency, including the filing of a petition in bankruptcy naming the warehouse as debtor; or</span></p><p dir="ltr" class="s2071046Normal-000001"><span class="s2071046DefaultParagraphFont">(4)    The warehouse operator 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 warehouse.</span></p><p dir="ltr" class="s2071046Normal-000002"><span xml:space="preserve" class="s2071046DefaultParagraphFont">Within fifteen days the warehouse operator may request a hearing pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2071046DefaultParagraphFont">1-26</span></a><span xml:space="preserve" class="s2071046DefaultParagraphFont"> to determine if the license should be revoked. If no request is made within fifteen days, the commission shall revoke the license. If the commission determines it is necessary, the commission may apply to the circuit court in the county in which the warehouse operator operates for that court to appoint a receiver. The receiver has such powers and duties as the court may direct.</span></p><p dir="ltr" class="s2071046Normal"><span xml:space="preserve" class="s2071046000003"> </span></p><p dir="ltr" class="s2071046Normal"><span class="s2071046SCL">Source:</span><span xml:space="preserve" class="s2071046SCL-000004"> SL 1987, ch 355, § 3; SL 2008, ch 249, § 13; SL 2013, ch 238, § 3, eff. Apr. 1, 2013.</span></p></div></body></html>