Before transacting the business of a grain buyer in this state, a person shall obtain a grain buyer license from the commission. A violation of this section is a Class 5 felony if the person holds himself or herself out to be a grain broker and a Class 1 misdemeanor in all other cases. Each purchase of grain without a license is a separate offense. A grain buyer transacting business without a license may be enjoined upon complaint of the commission. The commission may assess a civil fine against an unlicensed grain buyer in the amount of five thousand dollars for each purchase of grain, up to a maximum fine of fifty thousand dollars per licensing period, as set forth in § 49-45-3. For purposes of this section, the term, purchase of grain, means a transaction evidenced by the issuance of a uniform scale ticket or receipt, as described in § 49-45-10.1.

Source: SL 1949, ch 434 , § 1; SL 1957, ch 488 ; SDC Supp 1960, § 60.0335; SL 1983, ch 15 , § 174; SL 1985, ch 376 , § 71; SL 1992, ch 332 , § 5; SL 2008, ch 251 , § 1; SL 2022, ch 174 , § 4; SL 2022, ch 175 , § 1.