49-45-6. Supervision of grain buyers--Promulgation of rules.
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 1-26, concerning:
(1)The form of a grain buyer's bond and application and the information required to be included for licensing;
(2)Requirements for posting grain buyer's licenses;
(3)Notice requirements to sellers who enter into voluntary credit sale agreements;
(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;
(5)Requirements for grain buyers to provide information to sellers regarding the statutes and rules relating to grain buyers;
(6)Requirements and procedures for releasing bonds; and
(7)Procedures and requirements for license suspension, revocation, transfer of ownership, or insolvency by a grain buyer.
Source: 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.