South Dakota § 49-43-62 - Grain warehouse operator's financial condition--Notice to commission--Penalty--Civil fine.
Full text of South Dakota South Dakota Codified Laws § 49-43-62 — Grain warehouse operator's financial condition--Notice to commission--Penalty--Civil fine., with citation guidance and answers to common questions.
§ 49-43-62. Grain warehouse operator's financial condition--Notice to commission--Penalty--Civil fine.
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.
Source: SL 2013, ch 238, § 7, eff. Apr. 1, 2013; SL 2022, ch 174, § 3; SL 2022, ch 177, § 2.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 49-43-62
What does South Dakota Codified Laws § 49-43-62 cover?
Section 49-43-62 ("Grain warehouse operator's financial condition--Notice to commission--Penalty--Civil fine.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 49-43-62?
A common citation format is "South Dakota Codified Laws § 49-43-62" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 49-43-62 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.