<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 49-45-7 - Application for license--Contents--Issuance or denial--Multiple warehouses of licensee. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071126Normal { 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.s2071126SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071126CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071126Normal-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.s2071126DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2071126Normal-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.s2071126000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071126SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071126SCL-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="s2071126Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-45-7"><span class="s2071126SENU">49-45-7</span></a><span xml:space="preserve" class="s2071126SENU">. </span><span class="s2071126CL">Application for license--Contents--Issuance or denial--Multiple warehouses of licensee.</span></p><p dir="ltr" class="s2071126Normal-000000"><span xml:space="preserve" class="s2071126DefaultParagraphFont">An application for a grain buyer license shall be filed with the commission and shall be in a form prescribed by the commission. The application shall set forth the name of each owner or principal in the management of the business and shall contain financial information depicting the financial condition of the business at the time of application. If the applicant is a corporation, the application shall include the name of the president, secretary, and treasurer of the corporation. The application shall also include the location of the principal office or place of business and any additional place of business of the applicant. 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="s2071126DefaultParagraphFont">22-29-9.1</span></a><span class="s2071126DefaultParagraphFont">. 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="s2071126Normal-000001"><span xml:space="preserve" class="s2071126DefaultParagraphFont">Upon receipt of an application and sufficient bond as required by § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-45-9"><span class="s2071126DefaultParagraphFont">49-45-9</span></a><span class="s2071126DefaultParagraphFont">, the commission may grant the license applied for or may, for good cause shown and after notice and an opportunity for hearing, deny the issuance of the license.</span></p><p dir="ltr" class="s2071126Normal-000001"><span class="s2071126DefaultParagraphFont">If a grain buyer has more than one grain buying facility in the same municipality, only one license is required for all the grain buying facilities.</span></p><p dir="ltr" class="s2071126Normal"><span xml:space="preserve" class="s2071126000002"> </span></p><p dir="ltr" class="s2071126Normal"><span class="s2071126SCL">Source:</span><span xml:space="preserve" class="s2071126SCL-000003"> SL 1985, ch 376, § 72; SL 1994, ch 359, § 7; SL 2008, ch 251, § 5; SL 2013, ch 238, § 10, eff. Apr. 1, 2013; SL 2017, ch 200, § 5.</span></p></div></body></html><br /><hr><br /><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 49-45-7 - Application for license--Contents--Issuance or denial--Multiple warehouses of licensee. </title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s94ed858395da499ea82d3333cb2af62cNormal { 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.s94ed858395da499ea82d3333cb2af62cSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s94ed858395da499ea82d3333cb2af62cCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s94ed858395da499ea82d3333cb2af62cStatute { 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.s94ed858395da499ea82d3333cb2af62cDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s94ed858395da499ea82d3333cb2af62c000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s94ed858395da499ea82d3333cb2af62cNoIndent { 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.s94ed858395da499ea82d3333cb2af62cDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s94ed858395da499ea82d3333cb2af62cSCL { 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 49-45-7.1 - Classes of grain buyer's license."><meta property="og:description" content="SDLRC Codified Law 49-45-7.1 - Classes of grain buyer's license."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/49-45-7.1"><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="s94ed858395da499ea82d3333cb2af62cNormal"><a href="https://sdlegislature.gov/Statutes?Statute=49-45-7.1" rel="noopener"><span class="s94ed858395da499ea82d3333cb2af62cSENU">49-45-7.1</span></a><span xml:space="preserve" class="s94ed858395da499ea82d3333cb2af62cSENU">. </span><span class="s94ed858395da499ea82d3333cb2af62cCL">Classes of grain buyer's license.</span></p><p dir="ltr" class="s94ed858395da499ea82d3333cb2af62cStatute"><span class="s94ed858395da499ea82d3333cb2af62cDefaultParagraphFont">An applicant may apply for a Class A grain buyer's license or a Class B grain buyer's license. No grain buyer with a Class B grain buyer's license may purchase grain in excess of five million dollars for the annual licensed year or enter into voluntary credit sale contracts. The commission shall require an applicant for a Class A grain buyer's license to submit a more detailed review of its financial condition than an applicant for a Class B grain buyer's license.</span></p><p dir="ltr" class="s94ed858395da499ea82d3333cb2af62cNormal"><span xml:space="preserve" class="s94ed858395da499ea82d3333cb2af62c000000"> </span></p><p dir="ltr" class="s94ed858395da499ea82d3333cb2af62cNoIndent"><span xml:space="preserve" class="s94ed858395da499ea82d3333cb2af62cDefaultParagraphFont-000001">Source: </span><span class="s94ed858395da499ea82d3333cb2af62cSCL">SL 2008, ch 251, § 6; SL 2018, ch 268, § 1; SL 2024, ch 192, § 2.</span></p></div></body></html>