§ 49-43-62 — Grain warehouse operator's financial condition--Notice to commission--Penalty--Civil fine.

South Dakota § 49-43-62

• Jurisdiction: South Dakota
• Title 49: PUBLIC UTILITIES AND CARRIERS
• Ch. 49-42A: PUBLIC GRAIN WAREHOUSES

Text

If during the licensing period a grain warehouse operator becomes aware that the grain warehouse is not in compliance with each financial standard, as set forth in the commission's rules, the grain warehouse operator shall immediately notify the commission of the grain warehouse's financial condition. When notification occurs, the commission shall immediately conduct an examination to determine if any grounds for suspension pursuant to § 49-43-5.6 have occurred. A willful violation of this section that results in a financial loss to a grain depositor is punishable as theft under chapter 22-30A . A willful violation that does not result in a financial loss to a grain depositor is a Class 1 misdemeanor. The commission may assess a grain warehouse that is out of compliance a civil fine in an amount not to exceed five thousand dollars for each day the grain warehouse has been out of compliance, up to a maximum of fifty thousand dollars.

Legislative History

SL 2013, ch 238, § 7, eff. Apr. 1, 2013; SL 2022, ch 174, § 3; SL 2022, ch 177, § 2.