49-45-17 Recovery of damages for breach of obligation under bond--Notice to commission--Time for co...
Recovery of damages for breach of obligation under bond--Notice to commission--Time for commission response.
Any person injured by the breach of any obligation of a grain buyer,
for the performance of which a bond has been given under any of the provisions of this chapter, may
sue on the bond in the person's own name in any court of competent jurisdiction to recover any
damages the person may have sustained by reason of the breach. However, a person may sue on the
bond only if the person has notified the commission of the person's intent to sue on the bond and if
the commission has stated in writing that it does not intend to institute any proceedings regarding
the bond. The commission shall respond in writing within sixty days of notification stating whether
the commission intends to institute any proceedings regarding the bond. If the commission fails to
respond in writing within the sixty days, the person may proceed to sue on the bond in the person's
Source: SL 1989, ch 404, § 6; SL 2008, ch 251, § 16; SL 2011, ch 211, § 12; SL 2012, ch 232, § 10.