Section 40-15-11 - Cancellation of auction agency bond by surety--New bond before continuingbusiness. - South-dakota Statutes

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40-15-11. Cancellation of auction agency bond by surety--New bond before continuing business. The bond required by § 40-15-10 may be canceled by the surety thereon by not less than thirty days' prior written notice to the Animal Industry Board and such cancellation does not in any manner affect the liability of the surety as to anything occurring prior thereto. In the event of such cancellation, no further operations may be conducted by the livestock auction agency until a bond or security has been provided, approved, and filed as required in § 40-15-10.

Source: SDC 1939, § 40.2003; SL 1941, ch 167; SL 1947, ch 178; SL 1965, ch 170; SL 1990, ch 325, § 247.

State Codes and Statutes

Statutes > South-dakota > Title-40 > Chapter-15 > Statute-40-15-11

40-15-11. Cancellation of auction agency bond by surety--New bond before continuing business. The bond required by § 40-15-10 may be canceled by the surety thereon by not less than thirty days' prior written notice to the Animal Industry Board and such cancellation does not in any manner affect the liability of the surety as to anything occurring prior thereto. In the event of such cancellation, no further operations may be conducted by the livestock auction agency until a bond or security has been provided, approved, and filed as required in § 40-15-10.

Source: SDC 1939, § 40.2003; SL 1941, ch 167; SL 1947, ch 178; SL 1965, ch 170; SL 1990, ch 325, § 247.

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State Codes and Statutes

Statutes > South-dakota > Title-40 > Chapter-15 > Statute-40-15-11

40-15-11. Cancellation of auction agency bond by surety--New bond before continuing business. The bond required by § 40-15-10 may be canceled by the surety thereon by not less than thirty days' prior written notice to the Animal Industry Board and such cancellation does not in any manner affect the liability of the surety as to anything occurring prior thereto. In the event of such cancellation, no further operations may be conducted by the livestock auction agency until a bond or security has been provided, approved, and filed as required in § 40-15-10.

Source: SDC 1939, § 40.2003; SL 1941, ch 167; SL 1947, ch 178; SL 1965, ch 170; SL 1990, ch 325, § 247.