49-45-25. Grain buyer's financial condition--Notice to commission--Penalty--Civil fine.

If during the licensing period a grain buyer becomes aware that the grain buyer is not in compliance with each financial standard, as set forth in the commission's rules, the grain buyer shall immediately notify the commission of the grain buyer's financial condition. When notification occurs, the commission shall immediately conduct an examination to determine if any grounds for suspension pursuant to § 49-45-16 have occurred.

A willful violation of this section that results in a financial loss to a grain supplier is punishable as theft under chapter 22-30A.

A willful violation that does not result in a financial loss to a grain supplier is a Class 1 misdemeanor.

The commission may assess, against an out-of-compliance grain buyer, a civil fine in an amount not to exceed one thousand dollars for each day the grain buyer has been out of compliance, up to a maximum of twenty thousand dollars per licensing period, as set forth in § 49-45-3.

Source: SL 2013, ch 238, § 17, eff. Apr. 1, 2013; SL 2022, ch 174, § 5; SL 2022, ch 177, § 1.