64:75:04:02Wholesale

payment terms -- malt beverage exception. No wholesaler may offer a retailer payment terms that provide a payment period in excess of 30 days from delivery of the alcoholic beverages. The delivery date of the alcoholic beverages is the first day of the 30-day payment period. Notwithstanding other provisions in this section, malt beverages must be paid for upon sale and delivery. Acceptable payment methods are United States currency, a correctly dated check payable at the bank upon presentation on the next banking day, or an electronic funds transfer. In addition to the purchase price of the malt beverages, retailers shall pay to the wholesaler not less than the brewery cost of any redeemable containers used. The requirement for payment upon sale and delivery does not apply to municipally operated establishments or establishments operating pursuant to SDCL 35-4-19 and SDCL 35-4-2l to 35-4-23, inclusive, if the municipality retains the obligation to make payment for the malt beverages directly to a wholesaler.

Source: SL 1975, ch 16, § 1; 4 SDR 35, effective December 22, 1977; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995; 31 SDR 214, effective July 6, 2005; 45 SDR 83, effective December 18, 2018; 46 SDR 11, effective July 30, 2019.