S.D. Admin. R. 20:10:11:09
Following the revocation or suspension of a public grain warehouse license, the commission shall notify each outstanding warehouse receipt holder, each open storage scale ticket holder, each grain bank depositor, and the surety named in the public grain warehouse licensee's bond of the license revocation or suspension. The commission may recommend that receipt holders, open storage scale ticket holders, and grain bank depositors remove all stored grain from the warehouse by a designated date. No grain may thereafter be removed or released from storage without prior commission authorization. If the commission has knowledge of any acts of insolvency by a public grain warehouse licensee, including the filing of a petition in bankruptcy naming the warehouse licensee as debtor, the commission shall notify the surety named in the warehouse licensee's bond of such acts. Notices required by this section shall be by first class mail.
S.D. Admin. R. 20:10:11:09
General Authority: SDCL 49-43-4.1(5).
Law Implemented: SDCL 49-43-5.6, 49-43-5.8.