<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 49-43-62 - Grain warehouse operator's financial condition--Notice to commission--Penalty--Civil fine.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.sbb77d30d0b8e4a8fabff6f7131409185Normal { 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.sbb77d30d0b8e4a8fabff6f7131409185SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sbb77d30d0b8e4a8fabff6f7131409185CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.sbb77d30d0b8e4a8fabff6f7131409185Statute { 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.sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.sbb77d30d0b8e4a8fabff6f7131409185000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.sbb77d30d0b8e4a8fabff6f7131409185NoIndent { text-indent: 0.00in; 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.sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.sbb77d30d0b8e4a8fabff6f7131409185SCL { 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><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 49-43-62 - Grain warehouse operator's financial condition--Notice to commission--Penalty--Civil fine."><meta property="og:description" content="SDLRC Codified Law 49-43-62 - Grain warehouse operator's financial condition--Notice to commission--Penalty--Civil fine."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=49-43-62"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="sbb77d30d0b8e4a8fabff6f7131409185Normal"><a href="https://sdlegislature.gov/Statutes?Statute=49-43-62" rel="noopener"><span class="sbb77d30d0b8e4a8fabff6f7131409185SENU">49-43-62</span></a><span xml:space="preserve" class="sbb77d30d0b8e4a8fabff6f7131409185SENU">. </span><span class="sbb77d30d0b8e4a8fabff6f7131409185CL">Grain warehouse operator's financial condition--Notice to commission--Penalty--Civil fine.</span></p><p dir="ltr" class="sbb77d30d0b8e4a8fabff6f7131409185Statute"><span xml:space="preserve" class="sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont">If during the licensing period a grain warehouse operator becomes aware that the grain warehouse is not in compliance with each financial standard, as set forth in the commission's rules, the grain warehouse operator shall immediately notify the commission of the grain warehouse's financial condition. When notification occurs, the commission shall immediately conduct an examination to determine if any grounds for suspension pursuant to § </span><a href="https://sdlegislature.gov/Statutes?Statute=49-43-5.6" rel="noopener"><span class="sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont">49-43-5.6</span></a><span xml:space="preserve" class="sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont"> have occurred.</span></p><p dir="ltr" class="sbb77d30d0b8e4a8fabff6f7131409185Statute"><span xml:space="preserve" class="sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont">A willful violation of this section that results in a financial loss to a grain depositor is punishable as theft under chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=22-30A" rel="noopener"><span class="sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont">22-30A</span></a><span class="sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont">.</span></p><p dir="ltr" class="sbb77d30d0b8e4a8fabff6f7131409185Statute"><span class="sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont">A willful violation that does not result in a financial loss to a grain depositor is a Class 1 misdemeanor.</span></p><p dir="ltr" class="sbb77d30d0b8e4a8fabff6f7131409185Statute"><span class="sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont">The commission may assess a grain warehouse that is out of compliance a civil fine in an amount not to exceed five thousand dollars for each day the grain warehouse has been out of compliance, up to a maximum of fifty thousand dollars.</span></p><p dir="ltr" class="sbb77d30d0b8e4a8fabff6f7131409185Normal"><span xml:space="preserve" class="sbb77d30d0b8e4a8fabff6f7131409185000000"> </span></p><p dir="ltr" class="sbb77d30d0b8e4a8fabff6f7131409185NoIndent"><span xml:space="preserve" class="sbb77d30d0b8e4a8fabff6f7131409185DefaultParagraphFont-000001">Source: </span><span class="sbb77d30d0b8e4a8fabff6f7131409185SCL">SL 2013, ch 238, § 7, eff. Apr. 1, 2013; SL 2022, ch 174, § 3; SL 2022, ch 177, § 2.</span></p></div></body></html>