49-43-1.1. Definitions.
227 words·~1 min read·
/sd/title-49/chapter-49-43/49-43-1-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Terms used in this chapter mean:
(1)"Commission," the Public Utilities Commission of this state;
(2)"Grain bank," grain which is received by a public grain warehouse from depositors for storage and is to be withdrawn and processed into feed as needed;
(3)"Independent provider," a third party entity that maintains an electronic central filing system of electronic warehouse receipts;
(4)"Open storage grain," grain received by a public grain warehouse from a depositor for which a warehouse receipt has not been issued or a purchase made and is not grain bank;
(5)"Public grain warehouse," any public warehouse where grain, as defined in § 49-45-1.1 , is received for storage for hire. A public grain warehouse may also purchase, receive or handle grain in accordance with the provisions of chapter 49-45 relating to grain buyers;
(6)"Receipt," a warehouse receipt which complies with the requirements of this chapter and the rules of the commission promulgated pursuant thereto. A warehouse receipt may be in an electronic form;
(7)"Scale ticket," a memorandum issued by a public grain warehouse or grain buyer to a depositor at the time grain is initially delivered, showing the weight of the load, kind of grain, date of delivery, and indicates whether the grain is to be sold or stored under a warehouse receipt, in open storage, or in a grain bank account.