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South Dakota PUC Takes First Step In Oral Credit Rule Change

South Dakota Public Utilities commissioners took the first step this week toward advancing a new oral credit rule for grain seller, buyers and elevators. PUC Vice Chair Chris Nelson says their proposed rule which they’ll vote on August 12 shores up oral credit regulations which gives farmers time before they sign a contract.

 

Nelson says should the commission okay the rule at their August meeting then it will be reviewed by a state legislative panel before it’s finalized.

The proposed rule change came about after a Judge earlier ruled that grain warehouse and grain buyers contracts must be signed.

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