Rule 20:10:12:13 Notice required to credit seller of grain.
20:10:12:13. Notice required to credit seller of grain.
The terms of a voluntary credit sale of grain shall contain the following
statement: "This contract is not protected by South Dakota statutory bond
coverages." This statement shall be printed in red or bold type
immediately above the seller's signature line.
In addition to this statement, each
voluntary credit sale contract shall include the following:
(1) Name of the grain
(2) Name of the seller;
(3) Amount and type of
(4) Grade of the grain;
(5) Method of pricing;
(6) Service charges or
(7) Advances against the
(8) A statement that title
to the grain passes to buyer upon delivery; and
(9) Signature and date of
signature for both the seller and buyer immediately preceded by statement
required in this section.
12 SDR 85, effective November 24, 1985; 12 SDR 151, 12 SDR 155, effective July
1, 1986; 24 SDR 190, effective July 15, 1998; 35 SDR 48, effective September 9,
Authority: SDCL 49-45-6(4), 49-45-11.
Implemented: SDCL 49-45-11.
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