South Dakota § 49-43-3 Grain stored under receipt not liable to seizure--Insolvency of bailee.

South Dakota Statutes

§ 49-43-3 — Grain stored under receipt not liable to seizure--Insolvency of bailee.

South Dakota § 49-43-3

Title 49PUBLIC UTILITIES AND CARRIERS

Ch. 49-42APUBLIC GRAIN WAREHOUSES

This text of South Dakota § 49-43-3 (Grain stored under receipt not liable to seizure--Insolvency of bailee.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 49-43-3 (2026).

Text

In no case is the grain stored under a receipt as required by § 49-43-2.1 , open storage grain, or grain bank liable to seizure upon process of any court in any action against the bailee, except an action by the owner of open storage grain, owner of grain bank, or owner or holder of a warehouse receipt to enforce the terms of the same. In the event of the failure or insolvency of the bailee, grain on hand in the public grain warehouse shall first be applied to the redemption and satisfaction of outstanding receipts issued by the warehouse and to owners of open storage grain and grain bank.

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In no case is the grain stored under a receipt as required by § 49-43-2.1 , open storage grain, or grain bank liable to seizure upon process of any court in any action against the bailee, except an action by the owner of open storage grain, owner of grain bank, or owner or holder of a warehouse receipt to enforce the terms of the same. In the event of the failure or insolvency of the bailee, grain on hand in the public grain warehouse shall first be applied to the redemption and satisfaction of outstanding receipts issued by the warehouse and to owners of open storage grain and grain bank.