<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 49-45-9 - Bond requirements--Amount--Violation as misdemeanor.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s1a2ecbca51f04e3483c560293e9a7527Normal { 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.s1a2ecbca51f04e3483c560293e9a7527SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1a2ecbca51f04e3483c560293e9a7527CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s1a2ecbca51f04e3483c560293e9a7527Statute { 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.s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } table.s1a2ecbca51f04e3483c560293e9a7527000000 { border-collapse: collapse; border: none; margin-left: 6pt; margin-bottom: .001pt; } td.s1a2ecbca51f04e3483c560293e9a7527000001 { vertical-align: top; width: 236.4pt; border-top: solid #000000 1.0pt; padding-top: 0; border-right: solid #000000 1.0pt; padding-right: 5.4pt; border-bottom: solid #000000 1.0pt; padding-bottom: 0; border-left: solid #000000 1.0pt; padding-left: 5.4pt; } p.s1a2ecbca51f04e3483c560293e9a7527StatuteTable { line-height: 150.0%; margin-bottom: 2.9pt; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; margin-top: 0; margin-left: 0; margin-right: 0; } td.s1a2ecbca51f04e3483c560293e9a7527000002 { vertical-align: top; width: 130.5pt; border-top: solid #000000 1.0pt; padding-top: 0; border-right: solid #000000 1.0pt; padding-right: 5.4pt; border-bottom: solid #000000 1.0pt; padding-bottom: 0; border-left: solid #000000 1.0pt; padding-left: 5.4pt; } p.s1a2ecbca51f04e3483c560293e9a7527StatuteTable-000003 { line-height: 150.0%; margin-bottom: 2.9pt; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; margin-top: 0; margin-left: 0; margin-right: 0; } tr.s1a2ecbca51f04e3483c560293e9a7527000004 { height: 0.33in; } span.s1a2ecbca51f04e3483c560293e9a7527000005 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s1a2ecbca51f04e3483c560293e9a7527NoIndent { 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.s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont-000006 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s1a2ecbca51f04e3483c560293e9a7527SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 49-45-9 - Bond requirements--Amount--Violation as misdemeanor."><meta property="og:description" content="SDLRC Codified Law 49-45-9 - Bond requirements--Amount--Violation as misdemeanor."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes/49-45-9"><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="s1a2ecbca51f04e3483c560293e9a7527Normal"><a href="https://sdlegislature.gov/Statutes?Statute=49-45-9" rel="noopener"><span class="s1a2ecbca51f04e3483c560293e9a7527SENU">49-45-9</span></a><span xml:space="preserve" class="s1a2ecbca51f04e3483c560293e9a7527SENU">. </span><span class="s1a2ecbca51f04e3483c560293e9a7527CL">Bond requirements--Amount--Violation as misdemeanor.</span></p><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527Statute"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">Before any grain buyer license is issued by the commission, the applicant must file with the commission a bond conditioned to secure the faithful performance of the applicant's obligations as a grain buyer and the applicant's full and unreserved compliance with the laws of this state and the rules of the commission, relating to the purchase of grain by the grain buyer. The bond is for the specific purpose of protecting persons selling grain to the grain buyer. However, the bond may not benefit any person entering into a voluntary credit sale with a grain buyer. Any person who does business as a grain buyer without a bond is guilty of a Class 1 misdemeanor. Each day a person conducts the business of a grain buyer without a bond is a separate offense.</span></p><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527Statute"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">The amount of the bond for a Class A or Class B grain buyer's license must be based on a rolling average of the dollar amount of grain purchased by the applicant in this state during the last three license years. For a new grain buyer, the first year's bond must be based on projected purchases. For a grain buyer with less than three years of experience as a grain buyer, the bond must be based on the average actual purchases made by the grain buyer in all of its previous years as a grain buyer or projected purchases, whichever amount is higher. The bond applies to all grain purchases for all of the grain buyer's business locations.</span></p><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527Statute"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">The amount of the bond for a Class A grain buyer's license is:</span></p><div align="left"><table dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527000000" align="center"><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span xml:space="preserve" class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">    Dollar Amount of Grain Purchased</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable-000003"><span xml:space="preserve" class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">    Bond Requirement</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">Less than $2,000,001</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$50,000</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$2,000,001--$5,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$100,000</span></p></td></tr><tr class="s1a2ecbca51f04e3483c560293e9a7527000004"><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$5,000,001-$10,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$150,000</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$10,000,001-$20,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$200,000</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$20,000,001-$30,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$250,000</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$30,000,001-$40,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$300,000</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$40,000,001-$55,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$350,000</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$55,000,001-$70,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$400,000</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$70,000,001-$85,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$450,000</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$85,000,001-$100,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$500,000</span></p></td></tr></table></div><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527Statute"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">Bond requirements are increased twenty-five thousand dollars for each additional ten million dollars in purchases above one hundred million dollars.</span></p><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527Statute"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">The amount of the bond for a Class B grain buyer's license is:</span></p><div align="left"><table dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527000000" align="center"><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span xml:space="preserve" class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">    Dollar Amount of Grain Purchased</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable-000003"><span xml:space="preserve" class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">    Bond Requirement</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">Less than $2,000,001</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$50,000</span></p></td></tr><tr><td class="s1a2ecbca51f04e3483c560293e9a7527000001"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$2,000,001--$5,000,000</span></p></td><td class="s1a2ecbca51f04e3483c560293e9a7527000002"><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527StatuteTable"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">$100,000</span></p></td></tr></table></div><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527Statute"><span class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont">The grain buyer may stipulate to a higher bond amount requested by the commission or may post additional security in another form.</span></p><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527Normal"><span xml:space="preserve" class="s1a2ecbca51f04e3483c560293e9a7527000005"> </span></p><p dir="ltr" class="s1a2ecbca51f04e3483c560293e9a7527NoIndent"><span xml:space="preserve" class="s1a2ecbca51f04e3483c560293e9a7527DefaultParagraphFont-000006">Source: </span><span class="s1a2ecbca51f04e3483c560293e9a7527SCL">SL 1985, ch 376, § 75; SL 1994, ch 359, § 8; SL 1996, ch 277, § 1; SL 2008, ch 251, § 7; SL 2009, ch 248, § 2; SL 2013, ch 238, § 12, eff. Apr. 1, 2013; SL 2018, ch 268, § 2; SL 2024, ch 192, § 3.</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 49-45-9 - Bond requirements--Amount--Violation as misdemeanor.</title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2071130Normal { 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.s2071130SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071130CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2071130Normal-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.s2071130DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071130000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2071130SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2071130SCL-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="s2071130Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=49-45-9.1"><span class="s2071130SENU">49-45-9.1</span></a><span xml:space="preserve" class="s2071130SENU">. </span><span class="s2071130CL">Filing of financial documents in lieu of bond.</span></p><p dir="ltr" class="s2071130Normal-000000"><span xml:space="preserve" class="s2071130DefaultParagraphFont">If the commission determines, because a corporate surety company becomes insolvent or ceases to write grain buyer 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=49-45-9"><span class="s2071130DefaultParagraphFont">49-45-9</span></a><span xml:space="preserve" class="s2071130DefaultParagraphFont"> cannot be executed, or if a grain buyer is in the process of chapter 11 reorganization and a bond cannot be obtained, the commission may authorize the filing of other financial documents in lieu of a corporate surety bond.</span></p><p dir="ltr" class="s2071130Normal"><span xml:space="preserve" class="s2071130000001"> </span></p><p dir="ltr" class="s2071130Normal"><span class="s2071130SCL">Source:</span><span xml:space="preserve" class="s2071130SCL-000002"> SL 2008, ch 251, § 8; SL 2009, ch 249, § 1, eff. Mar. 11, 2009.</span></p></div></body></html>