S.D. Admin. R. 20:10:12:05 - Form of grain buyer's bond

The Public Utilities Commission shall furnish the grain buyer's bond form required by SDCL 49-45-9 and the bond form shall contain the following:

(1) Name and address of the principal;

(2) Name and address of the surety;

(3) Purpose of the bond;

(4) Each location of the buyer;

(5) Starting and ending date of the license for which the bond is given;

(6) Amount of the bond;

(7) Bond obligation;

(8) Signatures of the principal and the surety;

(9) Acknowledgements;

(10) Statutory authority for the bond; and

(11) If the bond is for both a grain warehouseman's and a grain buyer's license, a recitation that the bond amounts are separate and not in the aggregate for both bonds.

Notes

S.D. Admin. R. 20:10:12:05

12 SDR 85, retroactively effective July 1, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; 24 SDR 190, effective July 15, 1998; 35 SDR 48, effective September 9, 2008; 40 SDR 39, effective September 9, 2013.

General Authority: SDCL 49-45-6(1).

Law Implemented: SDCL 49-45-9.