Voluntary credit sales

Each voluntary credit sale of grain entered into by a grain buyer shall be in writing and shall have a settlement date. If a grain buyer meets the requirements set forth in § 57A-2-201(3)(d)(iii) when entering into a voluntary credit sale contract with a seller, the in writing requirement is considered met. The commission may, by rules promulgated pursuant to chapter 1-26 , prescribe the form and content of the writings. If a grain buyer's license is terminated or not renewed, the grain buyer shall pay for grain subject to a voluntary credit sale within ten days after the license expiration date. Source: SL 1985, ch 376 , § 76; SL 2008, ch 251 , § 11; SL 2015, ch 236 , § 1. 49-45-12. Repealed by SL 2013, ch 238 , § 14, eff. April 1, 2013.