20:10:11:04.02Release

of bonds. The commission may release an increase rider or additional bond to the warehouse licensee if it determines, after inspection or the submission of an updated grain report as required by § 20:10:11:01, that the original bond is adequate to cover one-half of the local market value of grain in the warehouse licensee's facilities. An original bond filed with the commission for the license year may not be released unless a new bond is executed to replace the original bond for the entire license year.

Source: 13 SDR 40, effective October 14, 1986; 14 SDR 62, effective October 28, 1987; 24 SDR 190, effective July 15, 1998; 40 SDR 39, effective September 9, 2013.