Section 4.1-59-08 - Grain buyer license - How obtained - Fee - Penalty1. Grain buyers that purchase, solicit, merchandise, or take possession of grain in this state shall obtain an annual license from the commissioner. Except as provided in this section, each license expires on July thirty-first of each year. If a licensee's initial license is issued effective after May thirty-first, that license expires on July thirty-first of the following year. The annual license fee for a grain buyer is: a. Four hundred dollars for a grain buyer that purchased up to one million dollars worth of grain during the previous licensing period, or intends to purchase up to one million dollars worth of grain during the first year of operation;b. Eight hundred dollars for a grain buyer that purchased more than one million dollars worth of grain but not more than ten million dollars worth of grain during the previous licensing period, or intends to purchase more than one million dollars worth of grain but not more than ten million dollars worth of grain during the first year of operation; andc. One thousand two hundred dollars for a grain buyer that purchased more than ten million dollars worth of grain during the previous licensing period, or intends to purchase more than ten million dollars worth of grain during the first year of operation.2. A license renewal application received after July fifteenth must be assessed an additional one hundred dollar fee per receiving location.3. A license issued under this section is not transferable.4. The commissioner may refuse to issue or renew or may revoke a license:a. If the licensee or applicant has been convicted of a criminal offense;b. If the licensee or applicant has failed to comply with the requirements of this section;c. If the commissioner has evidence the licensee negotiated in bad faith; ord. For any other reason as determined by the commissioner.5. A licensed grain buyer shall submit a monthly report to the commissioner by the tenth day of each month. The report must include the total value of each commodity brokered in the preceding month.6. A licensed grain buyer shall notify each potential commodity seller of the identity of the potential commodity buyer before the final confirmation of the transaction.7. Before a license is effective for a grain buyer, the licensee or applicant shall file a bond with the commissioner for not less than one hundred thousand dollars.8. A grain buyer must have the buyer's license in possession at all times.9. A grain buyer that transacts business without first procuring a license and giving a bond is guilty of a class B misdemeanor.Added by S.L. 2023 , ch. 89( HB 1393 ), § 2, eff. 7/1/2023.