<HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 49-43-5 - 49-43-5. Repealed by SL 1985, ch 376, § 81.49-43-5 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 49-43-5 "> <META NAME="Description" Content="South Dakota Codified Laws 49-43-5"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 49-43-5. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1985, ch 376, &#167;&nbsp;81.<p> </BODY> </HTML> <br /><hr><br /><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 - 49-43-5. Repealed by SL 1985, ch 376, § 81.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071041Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071041SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071041CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071041Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071041DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071041Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071041000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071041SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071041SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071041Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.1"><span class="s2071041SENU">49-43-5.1</span></a><span xml:space="preserve" class="s2071041SENU">. </span><span class="s2071041CL">Application for license--Contents--Multiple warehouses of licensee.</span></p><p dir="ltr" class="s2071041Normal-000000"><span xml:space="preserve" class="s2071041DefaultParagraphFont">The application for a license to operate as a public grain warehouse made pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-4.2"><span class="s2071041DefaultParagraphFont">49-43-4.2</span></a><span xml:space="preserve" class="s2071041DefaultParagraphFont"> shall be in writing, in a form prescribed by the commission, and shall set forth the name, principal office or place of business, location of each warehouse if more than one warehouse is operated in separate municipalities or locations, and the individual name of each owner or principal in the management of the warehouse. If the warehouse is owned or managed by a corporation, the name of the president, secretary, and treasurer of the corporation shall be stated. The application shall also state that the applicant is seeking a public grain warehouse license and shall contain financial information depicting the financial condition of the business at the time of the application. The application shall contain the affirmation statement set forth in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=22-29-9.1"><span class="s2071041DefaultParagraphFont">22-29-9.1</span></a><span class="s2071041DefaultParagraphFont">. The application shall be signed by the owner, managing partner, or chief executive officer of the applicant and shall be notarized.</span></p><p dir="ltr" class="s2071041Normal-000001"><span class="s2071041DefaultParagraphFont">If a warehouseman has more than one public grain warehouse in the same municipality, only one license is required for all the public grain warehouses.</span></p><p dir="ltr" class="s2071041Normal"><span xml:space="preserve" class="s2071041000002"> </span></p><p dir="ltr" class="s2071041Normal"><span class="s2071041SCL">Source:</span><span xml:space="preserve" class="s2071041SCL-000003"> SL 1985, ch 376, § 18; SL 1992, ch 60, § 2; SL 1994, ch 359, § 3; SL 2013, ch 238, § 1, eff. Apr. 1, 2013; SL 2017, ch 200, § 1.</span></p></div></body></html><br /><hr><br /><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 - 49-43-5. Repealed by SL 1985, ch 376, § 81.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071042Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071042SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071042CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071042Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071042DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071042000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071042SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071042SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071042Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.2"><span class="s2071042SENU">49-43-5.2</span></a><span xml:space="preserve" class="s2071042SENU">. </span><span class="s2071042CL">Application fee.</span></p><p dir="ltr" class="s2071042Normal-000000"><span class="s2071042DefaultParagraphFont">The application for a license to operate as a public grain warehouse shall be accompanied by a fee of two hundred seventy-five dollars for each municipality or location at which the warehouse operator receives or stores grain for hire.</span></p><p dir="ltr" class="s2071042Normal"><span xml:space="preserve" class="s2071042000001"> </span></p><p dir="ltr" class="s2071042Normal"><span class="s2071042SCL">Source:</span><span xml:space="preserve" class="s2071042SCL-000002"> SL 1985, ch 376, § 19; SL 1996, ch 277, § 3; SL 2008, ch 250, § 1; SL 2011, ch 211, § 2; SL 2013, ch 238, § 2, eff. Apr. 1, 2013.</span></p></div></body></html><br /><hr><br /><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 - 49-43-5. Repealed by SL 1985, ch 376, § 81.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071043Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071043SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071043CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071043Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071043DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071043Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071043000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071043SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071043SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071043Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.3"><span class="s2071043SENU">49-43-5.3</span></a><span xml:space="preserve" class="s2071043SENU">. </span><span class="s2071043CL">Purpose of bond--Amount--Multiple warehouses.</span></p><p dir="ltr" class="s2071043Normal-000000"><span xml:space="preserve" class="s2071043DefaultParagraphFont">The bond required by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-4.3"><span class="s2071043DefaultParagraphFont">49-43-4.3</span></a><span xml:space="preserve" class="s2071043DefaultParagraphFont"> for public grain warehouses is for the specific purpose of protecting persons storing grain with the warehouse.</span></p><p dir="ltr" class="s2071043Normal-000001"><span class="s2071043DefaultParagraphFont">The warehouse operator shall furnish a single bond in an amount equal to one-half of the local market value of the grain stored in the warehouse, or if multiple warehouses are operated by the warehouse operator, the bond shall equal one-half of the local market value of the grain stored at all warehouse locations. However, a warehouse operator shall provide a minimum bond of twenty-five thousand dollars at any one municipality or location. The minimum bond amounts per municipality or location does not limit the bond coverage available to depositors at any one warehouse location. The entire bond, up to the amount on its face, shall provide coverage to a depositor conducting business at any of the warehouse operator's locations.</span></p><p dir="ltr" class="s2071043Normal-000001"><span class="s2071043DefaultParagraphFont">The bond shall describe with particularity the exact locations of the warehouses to be covered.</span></p><p dir="ltr" class="s2071043Normal"><span xml:space="preserve" class="s2071043000002"> </span></p><p dir="ltr" class="s2071043Normal"><span class="s2071043SCL">Source:</span><span xml:space="preserve" class="s2071043SCL-000003"> SL 1985, ch 376, § 20; SL 1986, ch 397, § 4; SL 1987, ch 355, § 1; SL 1989, ch 404, § 2; SL 1992, ch 60, § 2; SL 1994, ch 359, § 4; SL 2008, ch 249, § 11.</span></p></div></body></html><br /><hr><br /> <HTML> <HEAD> <HTML> <HEAD> <meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 49-43-5 - 49-43-5. Repealed by SL 1985, ch 376, § 81.49-43-5.4 </title> <META NAME="Keywords" Content="South Dakota Codified Laws SDCL 49-43-5.4 "> <META NAME="Description" Content="South Dakota Codified Laws 49-43-5.4"> </HEAD> <BODY> <!-- File converted by Wp2Html Version 4.0 --> <!-- Email Andrew@brackenbeds.co.uk for more details --> <!-- WP Style Open: System_34 --><!-- WP Style End: System_34 --> <Div align="full"> <!-- WP Paired Style On: SENU -->&nbsp;&nbsp;&nbsp;&nbsp;<!-- WP Style End: SENU --> 49-43-5.4. <!-- WP Paired Style Off: SENU -->&nbsp;<!-- WP Style End: SENU --> Repealed by SL 1989, ch 404, &#167;&nbsp;3.<p> </BODY> </HTML> <br /><hr><br /><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 - 49-43-5. Repealed by SL 1985, ch 376, § 81.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071045Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071045SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071045CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071045Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071045DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071045000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071045SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071045SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071045Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.5"><span class="s2071045SENU">49-43-5.5</span></a><span xml:space="preserve" class="s2071045SENU">. </span><span class="s2071045CL">Filing of other financial documents in lieu of bond.</span></p><p dir="ltr" class="s2071045Normal-000000"><span xml:space="preserve" class="s2071045DefaultParagraphFont">If the Public Utilities Commission determines, because a corporate surety company becomes insolvent or ceases to write grain warehouse bonds in this state, that a bond in the sum required by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.3"><span class="s2071045DefaultParagraphFont">49-43-5.3</span></a><span xml:space="preserve" class="s2071045DefaultParagraphFont"> cannot be executed, the commission may, by rule, authorize the filing of other financial documents in lieu of a corporate surety bond.</span></p><p dir="ltr" class="s2071045Normal"><span xml:space="preserve" class="s2071045000001"> </span></p><p dir="ltr" class="s2071045Normal"><span class="s2071045SCL">Source:</span><span xml:space="preserve" class="s2071045SCL-000002"> SL 1987, ch 355, § 2.</span></p></div></body></html><br /><hr><br /><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 - 49-43-5. Repealed by SL 1985, ch 376, § 81.</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; } </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><br /><hr><br /><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 - 49-43-5. Repealed by SL 1985, ch 376, § 81.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071047Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071047SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071047CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071047Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071047DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071047000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071047SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071047SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071047Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.7"><span class="s2071047SENU">49-43-5.7</span></a><span xml:space="preserve" class="s2071047SENU">. </span><span class="s2071047CL">Recovery of damages for breach of obligation under bond--Notice to commission--Time for commission response.</span></p><p dir="ltr" class="s2071047Normal-000000"><span class="s2071047DefaultParagraphFont">Any person injured by the breach of any obligation of a warehouseman, for the performance of which a bond has been given under any of the provisions of this chapter, may sue on the bond in the person's own name in any court of competent jurisdiction to recover any damages the person may have sustained by reason of the breach. However, a person may sue on the bond only if the person has notified the commission of the person's intent to sue on the bond and if the commission has stated in writing that it does not intend to institute any proceedings regarding the bond. The commission shall respond in writing within sixty days of notification stating whether the commission intends to institute any proceedings regarding the bond. If the commission fails to respond in writing within the sixty days, the person may proceed to sue on the bond in the person's own name.</span></p><p dir="ltr" class="s2071047Normal"><span xml:space="preserve" class="s2071047000001"> </span></p><p dir="ltr" class="s2071047Normal"><span class="s2071047SCL">Source:</span><span xml:space="preserve" class="s2071047SCL-000002"> SL 1987, ch 355, § 4; SL 2011, ch 211, § 3; SL 2012, ch 232, § 9.</span></p></div></body></html><br /><hr><br /><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 - 49-43-5. Repealed by SL 1985, ch 376, § 81.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071048Normal { 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.s2071048SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071048CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071048Normal-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.s2071048DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071048Normal-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; } span.s2071048000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071048SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071048SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2071048Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.8"><span class="s2071048SENU">49-43-5.8</span></a><span xml:space="preserve" class="s2071048SENU">. </span><span class="s2071048CL">Possession of warehouse by commission--Notification of surety.</span></p><p dir="ltr" class="s2071048Normal-000000"><span xml:space="preserve" class="s2071048DefaultParagraphFont">If the commission becomes aware of any act by any warehouse operator as described in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.6"><span class="s2071048DefaultParagraphFont">49-43-5.6</span></a><span class="s2071048DefaultParagraphFont">, the commission may:</span></p><p dir="ltr" class="s2071048Normal-000001"><span class="s2071048DefaultParagraphFont">(1)    Take immediate possession of the warehouse facility, and undertake an immediate audit and verify the names and addresses of all outstanding warehouse receipt holders and scale ticket holders as revealed by the audit, and audit and certify the quantity and class or classes of grain therein;</span></p><p dir="ltr" class="s2071048Normal-000001"><span class="s2071048DefaultParagraphFont">(2)    Immediately notify the surety named in both the warehouse's and grain buyer's bonds, if any, held by the warehouse.</span></p><p dir="ltr" class="s2071048Normal"><span xml:space="preserve" class="s2071048000002"> </span></p><p dir="ltr" class="s2071048Normal"><span class="s2071048SCL">Source:</span><span xml:space="preserve" class="s2071048SCL-000003"> SL 1987, ch 355, § 4a; SL 2008, ch 249, § 14.</span></p></div></body></html><br /><hr><br /><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 - 49-43-5. Repealed by SL 1985, ch 376, § 81.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071049Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071049SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071049CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071049Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2071049DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071049000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071049SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071049SCL-000002 { 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="s2071049Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.9"><span class="s2071049SENU">49-43-5.9</span></a><span xml:space="preserve" class="s2071049SENU">. </span><span class="s2071049CL">Claim against warehouseman--Time limitation--Notice of revocation of license.</span></p><p dir="ltr" class="s2071049Normal-000000"><span xml:space="preserve" class="s2071049DefaultParagraphFont">Upon revocation, termination, or cancellation of a warehouse license, any claim against the warehouseman arising under this chapter shall be made in writing with the commission within six months after receiving notice of revocation, termination, or cancellation. Upon revocation of a warehouse license, the commission shall publish notice of the revocation once each week for two consecutive weeks in a newspaper of general circulation in each county in which the licensee maintains a business location and in a newspaper of general circulation within the state. The commission shall also send notice of the revocation by certified mail to each grain storage receipt and scale ticket holder named in the audit prepared pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-43-5.8"><span class="s2071049DefaultParagraphFont">49-43-5.8</span></a><span class="s2071049DefaultParagraphFont">. The notice shall state the name and address of the warehouseman, the effective date of revocation, and the name and address of the surety on the warehouse bond. The notice shall also state that any claims against the warehouseman shall be made in writing and sent by ordinary mail to the commission within six months after receiving notice of revocation.</span></p><p dir="ltr" class="s2071049Normal"><span xml:space="preserve" class="s2071049000001"> </span></p><p dir="ltr" class="s2071049Normal"><span class="s2071049SCL">Source:</span><span xml:space="preserve" class="s2071049SCL-000002"> SL 1987, ch 355, § 5; SL 1989, ch 30, § 83; SL 1989, ch 404, § 4; SL 2017, ch 200, § 2.</span></p></div></body></html>