<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 49-45-6 - Supervision of grain buyers--Promulgation of rules. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2079712Normal { 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.s2079712SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079712CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2079712Statute { 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.s2079712DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2079712StatuteNumber1 { 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.s2079712000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2079712DefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2079712SCL { 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="s2079712Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-45-6"><span class="s2079712SENU">49-45-6</span></a><span xml:space="preserve" class="s2079712SENU">. </span><span class="s2079712CL">Supervision of grain buyers--Promulgation of rules.</span></p><p dir="ltr" class="s2079712Statute"><span xml:space="preserve" class="s2079712DefaultParagraphFont">The commission shall supervise the business of grain buyers in this state and administer the laws in relation thereto. The commission may promulgate rules, pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2079712DefaultParagraphFont">1-26</span></a><span class="s2079712DefaultParagraphFont">, concerning:</span></p><p dir="ltr" class="s2079712StatuteNumber1"><span class="s2079712DefaultParagraphFont">(1)    The form of a grain buyer's bond and application and the information required to be included for licensing;</span></p><p dir="ltr" class="s2079712StatuteNumber1"><span class="s2079712DefaultParagraphFont">(2)    Requirements for posting grain buyer's licenses;</span></p><p dir="ltr" class="s2079712StatuteNumber1"><span class="s2079712DefaultParagraphFont">(3)    Notice requirements to sellers who enter into voluntary credit sale agreements;</span></p><p dir="ltr" class="s2079712StatuteNumber1"><span class="s2079712DefaultParagraphFont">(4)    Requirements for filing financial statements with the commission and the financial standards by which the statements are approved when considering whether to license a grain buyer;</span></p><p dir="ltr" class="s2079712StatuteNumber1"><span class="s2079712DefaultParagraphFont">(5)    Requirements for grain buyers to provide information to sellers regarding the statutes and rules relating to grain buyers;</span></p><p dir="ltr" class="s2079712StatuteNumber1"><span class="s2079712DefaultParagraphFont">(6)    Requirements and procedures for releasing bonds; and</span></p><p dir="ltr" class="s2079712StatuteNumber1"><span class="s2079712DefaultParagraphFont">(7)    Procedures and requirements for license suspension, revocation, transfer of ownership, or insolvency by a grain buyer.</span></p><p dir="ltr" class="s2079712Normal"><span xml:space="preserve" class="s2079712000000"> </span></p><p dir="ltr" class="s2079712Normal"><span xml:space="preserve" class="s2079712DefaultParagraphFont-000001">Source: </span><span class="s2079712SCL">SL 1985, ch 376, § 70; SL 1986, ch 22, § 26; SL 1990, ch 371, § 7; SL 1992, ch 332, § 6; SL 2008, ch 251, § 4; SL 2011, ch 211, § 6; SL 2020, ch 202, § 1.</span></p></div></body></html>